In a year of record levels of tax receipts it must have been difficult for the Revenue Commissioners to admit that public confidence in their operations had been damaged by disclosures of tax evasion.

But it was left with little option given the evidence heard by assorted tribunals and the publication on Tuesday of the Revenue's annual report and the release by the Dail Committee of Public Accounts of a damming document from the Comptroller & Auditor General detailing endemic tax evasion.

Revenue chairman Dermot Quigley accepted that the organisation would have to win back credibility. He agreed the taxation system should have credibility. But why have only 11 cases from the NIB offshore investments investigation been selected for further examination with a view to possible prosecution?

He contended that the Revenue must target the more serious cases and those where it will be possible to prosecute successfully. This requires a huge staff commitment, he said.

However, with voluntary compliance procedures now more streamlined, the Revenue may now be set to operate a more active prosecutions policy. Prosecutions are also likely to come to court more quickly because the Director of Public Prosecutions can take cases directly from Revenue investigators.

Could it be that some of the Irish resident Ansbacher account holders and the bogus non-resident account holders with the Irish banks could find themselves in court sooner than they expect?