Revenue Defaulters List: 1 January - 31 March 2004
Revenue publish Defaulters List
Revenue Defaulters List July - 1 January - 31 March 2004
The list is published in two parts:
Part 1 lists every person upon whom a fine or other penalty was imposed by a court. This includes the following categories:
- Failure to file a return
- Filing an incorrect return
- Illegal selling of tobacco
- Cigarette smuggling
- Various excise and licensing offences
Part 2 lists audit settlements where the Revenue Commissioners accepted a specified sum in excess of €12,700 in settlement of any additional liability for tax, interest and penalties instead of instituting proceedings for the recovery of the penalties and where:
- a voluntary disclosure was not made by the taxpayer prior to the commencement of an audit and
- the amount of fine or penalty included in the settlement exceeded 15% of the tax.
In the three month period to 31 March 2004 there were 259 settlements in excess of €12,700 which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total €47.63 million.
Of the the 259 published settlements 89 were for amounts exceeding €100,000; 16 exceeded €500,000 and 10 exceeded €1,000,000.
Of the 259 settlements:
- 196 settlements totalling €29.98m relate to Bogus Non-Resident holders
- 5 settlements totalling €5.54m relate to Ansbacher account holders
- 5 settlements totalling €2.09m relate to Revenue investigations into Off Shore Funds and
- 2 settlements totalling €0.29m relate to Revenue's NIB Investigations
The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to 31 March. The total yield from Revenue audit and investigation programmes in the period 1 January 2004 to 31 March 2004 was €104.25million. Besides the 259 cases detailed above it included 517 settlements in excess of €12,700 which did not fall to be published. The settlements in such cases total €52.17million. In addition, a further 2,321 audits completed during the period resulted in settlements totalling €4,451,296.