Revenue publish Defaulters List
Today’s edition of Iris Oifigiúil contains details of Revenue’s Tax Defaulters list showing audit settlements completed by Revenue in the period 1 April 2008 to 30 June 2008. The list of every person upon whom a fine or other penalty was imposed by a Court will be published on Tuesday, 16th September.
The list published today contains 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 2008, there were 93 settlements accepted, which fall to be published. The settlements in these cases have been agreed by the respective taxpayers and total €12.24 million.
Of the 93 published settlements 39 were for amounts exceeding €100,000; of which 4 exceeded €500,000.
Of the 93 settlements:
- 10 settlements totalling €1.48 million relate to Bogus Non-Resident Account holders
- 22 settlements totalling €3.12 million relate to Revenue investigations into Offshore Funds and
- 14 settlements totalling €3.14 million relate to Revenue’s Single Premium Insurance Products Cases.
The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to 30 June 2008.
The total yield from Revenue audit and investigation programmes settled in the period 1 April 2008 to 30 June 2008 was *€153.10 million.
*The total figure includes tax, interest and penalties
Ends: 12/09/2008