Revenue publish Defaulters List
Today's edition of Iris Oifigiúil contains details of published audit/investigation settlements completed by Revenue in the period 1 April 2005 to 30 June 2005.
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 or €30,000, 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 3 month period to 30 June 2005 there were 170 settlements which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total €39.54 million.
Of the 170 published settlements 54 were for amounts exceeding €100,000; 11 exceeded €500,000 and 8 exceeded €1,000,000.
Of the 170 settlements:
- 97 settlements totalling €16.16million relate to Bogus Non-Resident holders,
- 2 settlements totalling €6.43million relate to Ansbacher account holders,
- 21 settlements totalling €3.06million relate to Revenue investigations into Offshore Funds and
- 1 settlement totalling €0.20million relates 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 30 June 2005. The total yield from Revenue audit and investigation programmes in the period 1 April 2005 to 30 June 2005 was €135.11million*
* The total figure includes tax, interest and penalties and includes settlements that fall to be published.