Details of an elaborate tax evasion scheme involving the establishment of a secretive trust in Liechtenstein, investigated by an Irish business figure in 1984, are likely to be disclosed to the Revenue Commissioners.

A memorandum outlining how the scheme would operate, and naming a Blackrock, Co Dublin firm with links to a Swiss company at the heart of the proposed scheme, is likely to be given to the Revenue by RTE in the coming weeks.

From the memorandum, which was published last night on the Internet but with all the names blocked out, it seems that an Irish business figure was in the process of selling a company or business to a US buyer, and wanted to place a portion of the proceeds offshore.

A representative of the business figure travelled to Zurich and held meetings with a number of contacts there involved in secretive financial dealings. A scheme was proposed whereby a Liechtenstein trust would be established, administration of which would then be passed to a Zurich company. The Irish business figure would then be able to issue instructions in relation to the trust, but could claim he did not have any assets in his ownership nor any income accruing.

The memorandum states that the owner of such trusts "should never under any circumstances disclose to any person whatsoever in his own jurisdiction the existence or arrangements for the trust". In particular, the person establishing the trust should never inform his or her executor.

In the event of the person's death, the Zurich firm would contact the next-named holder or authority under the trust agreement, according to the memo. "No documents concerning the arrangements whether as regards setting up or operating should ever come into Ireland nor should any meetings be held in Ireland." One of the advisers in Zurich said that "realistically speaking, these resources can never be reintroduced to Ireland and that means for all time and would affect even the freedom of descendants and he pointed out the possible danger that a descendent might well blow the gaff on the whole thing in years to come by failing to have a true understanding of the nature of the set-up".

After details of the scheme were broadcast on RTE yesterday, the Fine Gael spokesman on Finance, Mr Michael Noonan, said the Revenue "must immediately investigate this latest [tax evasion] scheme". He also called on the Minister for Finance, Mr McCreevy, to have officials examine the document to see whether it reveals a gap in the law "which permits taxpayers to avoid tax through the use of discretionary trusts".

It is understood RTE is willing to hand over the document, with the names included, to the Revenue. RTE may itself name the individuals and companies identified in the document in the coming days. A spokesman for the Revenue said he had no specific comment to make "on this particular issue at this point. However I can confirm that the Revenue will investigate all matters of tax evasion which come to its attention". The memo is published in full on www.rte.ie