How the DIRT liabilities are distributed

Irish Life & Permanent has paid £7.5 million to the Revenue Commissioners

Irish Life & Permanent has paid £7.5 million to the Revenue Commissioners. It told the DIRT inquiry it had a DIRT liability of £250,000 on £5 million held in bogus non-resident accounts at its Killarney branch, dating back to 1991. This figure did not include interest and penalties. It subsequently lodged £700,000 on account with the Revenue. The settlement is based on a DIRT tax liability of £3.7 million, plus interest and penalties of £3.8 million. A further £78,000 has been lodged with the Revenue in relation to any DIRT liabilities arising from the Ansbacher deposits which were held at its Guinness & Mahon subsidiary.

ACCBank has paid £17.9 million to the Revenue Commissioners, having estimated its liabilities at between £1.5 million and £17 million. The settlement includes a £7.5 million DIRT liability, plus £10.4 million in interest and penalties.

Ulster Bank paid £4.2 million to the Revenue. It estimated the most it would have to pay would be £900,000. The £4.2 million settlement relates to an underlying tax liability of £1.7 million plus £2.5 million in interest and penalties.

Bank of Ireland had estimated its total tax bill at £2.8 million but had to pay £30.5 million to the Revenue. The settlement relates to an underlying DIRT liability of £12.75 million, plus interest and penalties.

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AIB estimates it owes £35 million, including interest and penalties, although contested internal audit reports suggest its DIRT liability is closer to £100 million. It is still in negotiations with the Revenue on the issue.

National Irish Bank has made a provision of £1 million for any potential DIRT liability. It is still in negotiations with the Revenue over the final amount it will have to pay.