Concrete firm pours €7.65m into Revenue for settlement
Taxman names defaulters as millions clawed back
A CONCRETE manufacturing firm made a settlement of €7.65m with the Revenue Commissioners last year, the fourth highest on record since 2002.
And investigations by the taxman yielded more than €116m in the last three months of 2010, new figures show.
A total of 62 defaulters were named yesterday in Government publication Iris Oifigiuil after making settlements with the Revenue totalling almost €21m. The biggest settlement was made by Gleeson Concrete with an address at Pamdohlen House, Dooradoyle Road, Co Limerick. The firm made a settlement of €7.65m after under declaring corporation tax, VAT and PAYE/PRSI.
The case was uncovered during an investigation into the use of trusts and offshore structures to evade tax, with €4.8m applied in interest and penalties. A family-owned business, Gleeson Concrete was established in 1958 and supplies concrete in Tipperary, Limerick and Cork. A spokesman last night said the company did not wish to comment on the settlement.
There were two settlements for more than €1m, with the second highest made by quarry operator John Gallagher -- with an address at Lougher, Duleek in Co Meath -- who made a settlement of €3m. Some €1.84m was applied in interest and penalties for under-declaring income tax and PAYE/PRSI.
The figures show:
- Two settlements totalling €590,000 relate to bogus non-resident holders.
- Ten cases totalling €8.28m relate to investigations into offshore funds.
- Eight of the settlements amounting to €1.63m relate to single premium insurance products cases.
Landlord James Harmon from Abbey House, Smiths Road in Charleville, Co Cork, was subjected to an audit investigation and made a settlement of €865,000 for the under declaration of income tax and capital gains tax. Thomas Gray, a court messenger with an address at Kilmoorland Stud in Rathmoylan, Co Meath, made a settlement of more than €795,000 for under-declaring income tax.
Humphrey Lynch -- a landlord from The Glebe, Coachford, Co Cork, paid more than €740,000 for the under declaration of income tax and capital gains tax. The figures also show that landlord Jerome O'Carroll, of Idrone Terrace in Blackrock, Co Dublin, was convicted of four counts of failing to lodge income tax returns and fined €11,800.
Bernard Brady, with an address at Millgrange, Greenore, Co Louth, was convicted on nine charges of failing to lodge VAT returns in Dundalk Circuit Criminal Court. The sentence was suspended for three years.
Haulage contractor Mary McKinney, from Riverside, Cockhill Road, Buncrana, Co Donegal, was sentenced to three years imprisonment on 15 counts of delivering incorrect VAT returns, and the sentence was suspended on condition she complete 240 hours of community service.
A tax consultant who falsely represented himself as an employee at various firms so he could gain tax credits to offset his own tax bill was jailed for 15 months. Colm Watters (48) from Greygates, Mount Merrion in Dublin, pleaded guilty at Dublin Circuit Criminal Court to seven charges. He had no previous convictions.