Revenue squeezes defaulters for more than €15m
Published 15/06/2011 | 05:00
A DISCOUNT store owner and a nursing home proprietor top the latest list of tax defaulters who have made settlements worth more than €15m with the Revenue Commissioners.
During the first three months of the year, 78 tax settlements totalling €15.56m -- which included tax liabilities, interest and penalties -- were made, according to the latest Revenue defaulters' list.
Among a separate list of more than 280 people fined for failure to lodge an income tax return was public relations consultant Valerie Roe, of Oakglynn, Craddockstown, Naas, Co Kildare who was fined €1,250.
Ms Roe features in a list of those who have been penalised under the 1997 Taxes Consolidation Act over the first quarter of this year.
Yesterday's published settlements were only a portion of all Revenue audits and investigations during the three-month period that yielded more than €106m.
The largest settlement -- of almost €1.5m in tax, interest and penalties -- was made by Sean Joyce, a discount store proprietor of Kilkenny, Breaffy, Castlebar, Co Mayo. The settlement was for under-declaration of income tax and VAT.
Nursing home owner Robert Fagan of Park Avenue, Sandymount, Dublin, made the second biggest settlement, of €925,000, for under-declaration of income tax.
A metal recycling and car parts service firm, Molloy Metals Recycling Ltd of Tomgarrow, Enniscorthy, Co Wexford, settled for €785,439 for under-declaration of VAT.
Retired company director Traolach Pleamonn, with an address at West 42nd Street in New York, made a settlement of €774,659 for under-declaration of capital gains tax, VAT, income tax and PAYE/PRSI.
Another retired company director -- Patrick Bracken, of Templeogue Road, Dublin -- made a €680,000 settlement for under-declaration of VAT and PAYE/PRSI.
Retired restaurateur Francis Morrissey, of Pearse Road, Enniscorthy, Co Wexford, made a settlement to the Revenue of €583,199 for the under-declaration of income tax, VAT and capital gains tax.
Of the 78 settlements, eight exceeded €500,000, one of which was for more than €1m and 39 settlements were for amounts over €100,000.
Six settlements totalling €3.4m related to bogus non-resident holders, 12 totalling €2.22m were connected to Revenue investigations into offshore funds and seven settlements for €1.41m related to Revenue's single premium insurance products cases.
In all there were 424 cases totalling more than €1m in fines and penalties involving failure to file tax returns, illegal selling of tobacco, cigarette smuggling and various excise and licensing offences.
Nine of the cases involved illegal selling of tobacco, while another 22 involved cigarette smuggling. Of the cigarette smuggling cases, four involved suspended prison sentence ranging from six months to two years.