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Sunday 18 February 2018

Building firm's €2.1m payment tops list of 136 Revenue cases

Paul Melia and  Donal O'Donovan

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

It was just one of 136 cases between April 1 and the end of June where individuals or businesses made a large settlement with tax authorities, or were ordered by the courts to pay penalties to the Revenue.

Settlements and fines for the period topped €22.6m.

The biggest debt was from Midland Contractors Ltd, with an address at Cortown, Kells, Co Meath, which 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.

The directors of the company are Margaret Kerrigan (62) and Patrick Kerrigan (60), both with an address at Cortown, Kells, Co Meath, according to the Companies Office records.

The company went into liquidation on April 19 this year.

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

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 Ortho- paedic 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.

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.

That investigation has been running since 2005 and is aimed at finding cases where untaxed money was used to buy life assurance policies.

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 audits and investigations, together with 16,440 risk management interventions based on the profile of businesses, were settled between April 1 and June 30, yielding €127m.

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

Irish Independent

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