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DR. MARTIN MANSERGH T.D. ATTENDS E.U./O.E.C.D. CONFERENCE ON “TRANSPARENCY AND EXCHANGE OF INFORMATION TO COMBAT TAX FRAUD AND EVASION”



Dr. Martin Mansergh, T.D., Minister of State at the Department of Finance today represented Ireland at a joint EU/OECD (Organisation for Economic Co-operation and Development) meeting in Paris on the transparency and exchange of information to combat tax fraud and evasion.

The meeting, which was held at the initiative of the French Minister for the Budget, Public Accounts and the Civil Service, Mr Eric Woerth, and the German Minister for Finance, Mr Peer Steinbruck, heard that Ireland’s voluntary disclosure strategy for undisclosed offshore funds has raised €930m to-date and serves “as a valuable model for other EU and OECD members facing the difficulty of securing unpaid taxes and penalties without using an amnesty”

The Minister welcomed the comments and praise given to Ireland by both Ministers Woerth and Steinbruck, in addition to OECD Secretary General Angel Gurría, for our “very successful initiative to establish a comprehensive offshore compliance strategy”. All considered that Ireland’s approach underlined the importance of ensuring full compliance from all taxpayers, which was becoming increasingly important in a financial climate characterised by the world-banking crisis and falling public finances.

Speaking after the meeting, Minister Martin Mansergh, said: “the agreed conclusions of the meeting further strengthen the importance of Ireland’s Double Taxation Agreements and Taxation Information Exchange Agreements, the latest of which was signed last week with the Isle of Man in conformity with the agreed OECD model”. The Minister added that: “the existence of these agreements continues to enhance the attractiveness of Ireland as a centre for investment and internationally traded services which will also help our exporters”.

Over 20 EU and OECD members agreed to enhance the work undertaken to date on the development of measures to improve transparency and exchange of information to combat tax fraud and evasion. 

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