Almost 300 tax defaulters paid €28.6 million in settlements

A Waterford furnishings firm made a €2.64 million tax settlement with the Revenue Commissioners. This is the largest settlement in the tax defaulters list published today.

In total, 285 persons who made settlements with the Revenue Commissioners had their names published today. They paid the revenue a combined €28.6 million in interest tax and penalties.

Some 230 individuals were named as settling tax liabilities for Bogus Non-Resident Accounts, resulting in payments of €25.07 million. These settlements included 57 in excess of €100,000, five in excess of €500,000 and two over €1 million.

Thirteen of those listed were deceased.

It is the largest settlement on a list of tax defaulters published in Iris Oifigiúil for the period January 1st to March 31st 2003.

J.M. Carpets Ltd, with an address at Mayor's Walk, Waterford, paid underdeclared corporation tax of €916,729 and interest and penalties of €1.73 million. The company was also named as having a Bogus Non-Resident Account.

The other case over €1 million involved Mr John Murphy, a company director with an address at Bishopscourt, Grantstown, Waterford. He paid the revenue €2.24 million including €764,719 in underdeclared tax and underdeclared corporation tax and €1.47 million in interest and penalties.

Some 350 persons who settled with the Revenue did not have their names published. They paid €26.52 million, bringing the total value of the settlements with the Revenue in the three months to March 31st to €55.15 million.

The list published today was of settlements of more than €12,700 arising from audits that began before the undeclared tax was disclosed and which included penalty elements of more than 15 per cent.