Dáil Éireann - Volume 580 - 17 February, 2004

Written Answers - Offshore Accounts.

  155. Mr. Durkan asked the Minister for Finance if he has satisfied himself that all offshore deposit accounts are restricted to those who are actually non-residents and that there are no circumstances whereby a local depositor can achieve offshore status while remaining full time here; and if he will make a statement on the matter. [4805/04]

  Mr. McCreevy: There is no prohibition in law on Irish people holding offshore deposit accounts. Irish resident taxpayers who hold offshore deposit accounts must fully declare all their income and profits, including amounts placed in such accounts, for tax purposes.