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 2006 to 30 June 2006.
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/€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 qualifying 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 2006 there were 179 settlements accepted, which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total €31.42 million.
Of the 179 published settlements 67 were for amounts exceeding €100,000; 14 exceeded €500,000 and 4 exceeded €1,000,000.
Of the 179 settlements:
- 37 settlements totalling €8.32 million relate to Bogus Non-Resident holders,
- 1 settlement totalling €0.82 million relates to an Ansbacher account holder,
- 47 settlements totalling €8.94million relate to Revenue investigations into Offshore Funds and
- 34 settlements totalling €2.36million relate to Revenue's Single Premium Insurance Product Investigation.
The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to 30 June 2006. The total yield from Revenue audit and investigation programmes settled in the period 1 April 2006 to 30 June 2006 was *€146.69 million.
*The total figure includes tax, interest and penalties
[Ends 26/09/2006]