The objects and reasons of this Bill consist of the amendment of various revenue Acts with a view to strengthening the investigative tools and powers and the options for settlement of the Commissioner for Tax and Customs in the fight against fiscal evasion, to establish a statutory framework for the settlement of fiscal liabilities enhancing the mechanisms for the recovery of outstanding dues thereby supporting the State’s broader efforts to ensure effectiveness in revenue collection and to deter financial crime. The Bill provides for the out of court settlement of disputes with the Revenue departments of Government in a manner which involves additional penalties comparable to the amounts which would be payable as fines in criminal proceedings involving financial crime apart from the administrative sanctions which are imposed by the provisions of the various revenue Acts. The Bill also provides for new criminal offences to be introduced in the Criminal Code on the fraudulent breach of particular agreements with a Government department and on the breach of such agreements without just cause and this to provide effective criminal sanctions against the abuse of the settlement mechanism being provided in this Bill.