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Thursday 30 March 2017

Taxman collects e29m in unpaid revenue

88 settlements in last quarter of 2009

Fergus Black

TAX defaulters paid out almost €29m in settlements to the Revenue Commissioners in the final quarter of last year, the latest figures reveal.

There were 88 settlements for the three-month period from October to December, with seven of the settlements for more than €1m each.

Eleven settlements totalling €9.61m related to investigations into off-shore funds, while 17 totalling €2.23m involved investigations into single premium insurance products. A further nine settlements, which yielded €1.96m, related to bogus non-resident accounts.

The monies raised were only a portion of all Revenue audits and investigations carried out during the last three months of 2009, which yielded €119.5m of tax.

Those who settled with the taxman and whose details are included in the Government publication 'Iris Oifigiuil' include 29 serving or former company directors, nine building contractors and 10 farmers.

The report also showed 51 people charged with smuggling illegal cigarettes from October to December, with one person given a 12-month suspended sentences and €20,000 in fines handed out.

Company director Robert McChesney of Avelreagh, Clontibret, Co Monaghan, made the largest single settlement of more than €3.6m for under-declaration of income tax and capital gains tax as a result of a revenue offshore assets investigation case.

While his tax liability was more than €1.45m, interest and penalties were more than double that amount at over €2.1m. A spokesman at his office said yesterday that Mr McChesney was unavailable for comment.

Racehorse trainer John Mulhearn, son-in-law of former Taoiseach Charles Haughey, who is listed as a retired company director of Meadow Court Stud in The Curragh, made a settlement of €1.4m.

The settlement, which included more than €887,000 in interest and penalties, was for under-declared income tax and capital gains tax.

Nightclub Central Park (Galway) Ltd, of Abbeygate Street, Galway, made the second largest payment to the taxman after agreeing a settlement of €3.59m for under-declared VAT and PAYE/PRSI.

The settlement was as a result of an investigation by Revenue's deposit-interest reporting and offshore assets unit.

Controversy

Company director Patrick Sherry from Carrowhatta, Scotstown, Co Monaghan, made a settlement of €2.31m for under-declared income tax.

Two other company directors, Edward Sherry of Clarnagh, Tydavnet, Co Monaghan, (€1.24m) and James Sherry (€1.1m) of Carrowhatta, Scotstown, Co Monaghan, also made settlements for under-declared income tax.

A construction company, which was embroiled in controversy over claims that its Turkish workers were paid less than the minimum wage, also paid over a large sum to Revenue.

Gama Construction Ireland Ltd of Northwood Court, Santry, Dublin made a settlement of more than €2m for under-declared corporation tax, VAT, PAYE/PRSI and relevant contracts tax. In a separate settlement Gama-Tubin Construction Ltd of the same address paid out €786,000 for under-declared corporation tax and relevant contracts tax.

Irish Independent

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