Saturday 24 February 2018

Revenue blitz: More than €80m in undeclared earnings collected from businesses

Blitz on different sectors including solicitors, doctors, dentists and accountants in first eight months

Revenue Commissioners
Revenue Commissioners

More than €80m in undeclared earnings has been collected by Revenue in the first eight months of the year from a raft of cash businesses including, solicitors, doctors, dentists and accountants.

The blitz on different sectors that deal mainly through cash transactions has been called the shadow economy project by Revenue officials, and contuinues to reap tens of millions of euro.

Landlords forked out the biggest chunk of cash after investigations by the tax officials, handing €21m to Revenue during the investigation.

The construction industry was the source of €17m in undeclared earnings.

But the white-collar sector was next in the rankings, with Revenue collecting a total of €16.5m from doctors, dentists, vets, solicitors, accountants and teachers giving grinds.

The security industry was the source of €5m in the investigation, and couriers were forced to hand over €2m.

Nursing homes accounted for €750,000 of the earnings collected under the project, while garages and forecourts had to hand over €460,000.

Another industry targeted was the scrap metal trade, where officials collected €220,000.

The cash-for-gold trade, which is relatively new to Ireland, also yielded €55,000.

The breakdown of the €82m in total that was collected from January to August this year was revealed at a recent meeting between Revenue and teh Department of Social Protection.

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