Revenue publish Defaulters List
Today’s edition of Iris Oifigiúil contains details of published audit/investigation settlements completed by Revenue in the period 1 October 2006 to 31 December 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 31 December 2006, there were 131 settlements accepted, which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total €35.44 million.
Of the 131 published settlements 63 were for amounts exceeding €100,000; of which 14 exceeded €500,000 and 6 of that 14 exceeded €1,000,000.
Of the 131 settlements:
- 40 settlements totalling €14.94 million relate to Bogus Non-Resident holders,
- 2 settlements totalling €0.08 million relate to Ansbacher account holders,
- 22 settlements totalling €6.03 million relate to Revenue investigations into Offshore Funds and
- 30 settlements totalling €5.23 million 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 31 December 2006. The total yield from Revenue audit and investigation programmes settled in the period 1 October 2006 to 31 December 2006 was *€158.55 million.
* The total figure includes tax, interest and penalties.
[Ends 27/03/2007]