Tax inquiry results in 93 defaulters paying over €12m

ONGOING SPECIAL investigations were responsible for catching half of the people named in the quarterly list of tax defaulters, published yesterday, according to the Revenue Commissioners

The latest list, covering the period April 1st 2008 to June 30th 2008, shows that 93 defaulters made settlements which came to a total of €12.24 million.

The largest settlement listed was for €635,565 - this was made by Patrick Keane, a company director, of Glenbaun, Ardfoyle Crescent, Blackrock, Cork.

Mr Keane's case arose from the Revenue's bogus non-resident account initiative, which began in 2001.

Under the Revenue's latest voluntary disclosure initiative, people have until Monday to declare untaxed funds they may have held in bank and building society accounts in the period between January 1st 2005 and December 31st 2007.

The Revenue is to get access from building societies and banks to information concerning accounts with large balances during the period.

Mr Keane is a director of Keane's Jewellers, Oliver Plunkett Street, Cork.

He made a settlement arising from the under-declaration of income tax and PAYE/PRSI.

Gerald Keane, company director, of Hingabue, Clogheen, Cork, made a settlement of €212,591 for similar reasons.

Charles McDaid, a retired company director from Cahir O'Doherty Avenue, Buncrana, Co Donegal, made a settlement of €588,600 arising from a single premium insurance products and offshore assets investigation case.

Derek Jones, a retired company director from The Hermitage, Ballykea, Skerries, Co Dublin, made a settlement of €575,000 arising out of a single premium insurance products case.

Site developer Joseph Miley, of Toolstown, Dunlavin, Co Wicklow, made a settlement of €514,730 arising from the Revenue's offshore assets initiative.

Frank Gilleece, a landlord from Maudlins, Trim, Co Meath, made a settlement of €466,687 arising from a Revenue offshore assets case.

John Foley, a haulage contractor from Limerick Road, Charleville, Co Cork, made a settlement of €452,058 arising from an offshore assets case.

Of the 93 published settlements, 39 were for amounts exceeding €100,000, of which four exceeded €500,000.

The published settlements reflect only a portion of all Revenue audits and investigations concluded in the three-month period to June 30th.

The total yield from Revenue audit and investigation programmes settled in the period was €153.10 million.

Only those above certain thresholds are published.