Business Irish

Tuesday 16 September 2014

Revenue defaulters list: Building firm forced to pay €2.1m

Published 10/09/2013 | 15:44

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A BUILDING company has been forced to pay more than €2.1m in taxes, interest and penalties to the Revenue Commissioners.

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Midland Contractors Ltd, with an address at Cortown, Kells, Co Meath, tops the list of tax defaulters published today for the second quarter of the year.

The company, which is in liquidation, was hit with the penalties for under-declaration of VAT following a Revenue audit case.

It is among four defaulters who reached settlements with the tax authorities of more than €1m. 

The others are landlords Barry & Sons (Navan) Ltd, with an address at Unit 12, Fashion City, M50 Business Park in Dublin 24, which paid a total of €1,043,360 for underdeclaration of corporation tax and company director and landlord Brendan O’Connor from Kilbride, The Ballagh, Enniscorthy, Co Wexford who reached a settlement of €1,207,988 for under-declaration of VAT and income tax.

Bed suppliers the Orthopaedic Bed Company, with an address at Dublin Road, Carrick on Shannon, Co Leitrim, reached a settlement of €1,234,782.18 for failing to pay income tax, VAT and PAYE/PRSI.  It is also in liquidation.

The list of defaulters covers the three-month period to June 30 last, and includes 136 names.  The settlements in these cases total €22.62m.

Of the 136 published cases, 59 were for amounts exceeding €100,000.  Of these, seven exceeded €500,000.

Four of the settlements, amounting to €1.28m, relate to Revenue’s Single Premium Insurance Products Investigation cases.

The published settlements only reflect a portion of all Revenue audits and investigations over the three months.  Settlements are only published when voluntary disclosure options are not availed of, and the default is as a result of careless or deliberate behaviour.

A total of 2,151 Revenue audit and investigations, together with 16,440 risk management interventions based on the profile of businesses, were settled between April 1 and June 30, yielding a total of €127m.

The list also includes details of people prosecuted for failing to file tax returns, illegal selling to tobacco and various excise and licensing offences.

The list is available at www.revenue.ie

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