Saturday 21 April 2018

Defaulters pay settlements of €30m with Revenue

Fergus Black

A FLAMBOYANT TD, a fishing boat company and a consultant gynaecologist are among 129 people who have made tax settlements with the Revenue Commissioners totalling almost €30m this year.

The latest quarterly list of tax defaulters also confirms that controversial independent TD Mick Wallace made the second largest settlement for the period -- €2,133,708.

In the three months to March 31 of this year, 129 tax settlements were made with the Revenue Commissioners for sums totalling €29.6m. Of those, five cases exceeded €1m.

Topping the defaulters' list was fishing vessel leasing company O'Shea Fishing Ltd of Fintra Road, Killybegs, Co Donegal. It made a settlement of €3,390,304 for underdeclared corporation tax and PAYE/PRSI as a result of a Revenue offshore assets investigation case.

The settlement included more than €1m in tax. Interest came to another €1,463,314 with penalties of more than €877,000.

The company declined to comment yesterday.

Next on the list comes Mr Wallace. M J Wallace Ltd, with an address at Ormond Quay, Dublin, and which is in receivership, made the settlement arising from a revenue audit, according to the list.

The company underdeclared VAT to a value of €1,418,894, was allocated interest of €289,146 and had penalties of €425,668 imposed on it.

The company was the subject of a €19.4m judgment in favour of ACC Bank last November. Mr Wallace has said he is not personally liable for the debt, which arose, he said, following his deliberate decision to file false VAT returns.

Consultant gynaecologist Dr Ahmed Hussain with an address at Carrickane, Cavan, made the third largest settlement of €1,895,667 for underdeclared income tax.

More than €930,000 of the settlement was tax while penalties and interest accounted for another €965,259.

In March, Dr Hussain was fined €30,000 at Cavan Circuit Court for failing to declare his income from his work with private patients and income from houses he was renting out.

The list also includes a €117,852 settlement by accountant Brendan Malone of Gordon Avenue Foxrock, Dublin, for underdeclared capital gains tax. Mr Malone, who is on the board of the Dublin Docklands Development Authority and who was a former board member of the Railway Procurement Agency and ACC bank, said he had no comment to make yesterday.

Supplier

The other top 10 settlements were:

• Cyril Whelan, a wall and floor tiles supplier and fitter of Laninch Road, Ennis -- €1,163,025.

• Mary O'Connor, landlord, of JKL Street, Edenderry, Co Offaly -- €1,046,335.

• Sean Halford (hairdresser) of Main Street, Gorey, Co Wexford -- €951,508.

• Desmond Faherty (company director) of Baily, Howth, Co Dublin -- €858,865.

• Merlian Properties Ltd of Killiney, Co Dublin -- €848,247.

• Thomas O'Leary (retired sole trader), Upper John Street, Wexford -- €742,677.

• Michael Rowan (retired ice cream distributor) of Rathstewart, Athy, Co Kildare -- €731,931.

A second Revenue list details another 459 people who were prosecuted in court for various tax offences with more than €1.5m imposed in fines and penalties.

These lesser cases included musical group partner, Gary Hansard from Lucan, Dublin -- a brother of Academy award winner Glen Hansard -- who was fined €1,250 for failing to lodge income tax returns.

Irish Independent

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