Tax investigations have been launched into multiple Irish multi-millionaires who are suspected of attempting to avoid tax payments. 90 of the 334 high wealth individuals who have had investigations opened against them pay less tax than an average worker despite each having individual net assets greater than 50 million Euro.
One of the individuals suspected of tax avoidance was also found with millions of Euro in cash hidden at their residences. Although there has been little detail revealed by the Revenue, it is understood that this particular individual has a suspected tax liability of around 19 million Euro.
The investigations which span back to 2017 have so far recovered 2 million Euro according to Revenue chairman Mr Cody. He also said that some of the cases were particularly complex with regards to the source of the individuals' wealth and whether the money could be taxed.
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