Nine €1m-plus settlements on Revenue list

TWO companies owned by Meath-based businessman Patrick Kerrigan have paid out almost €4 million to the Revenue Commissioners in unpaid taxes and penalties.

Midland Contractors, which is based in Kildare and owned by Patrick and Margaret Kerrigan, made a settlement of €2.31m for under-declaring PAYE, PRSI and relevant contracts tax. The settlement consisted of taxes of €1.02m and interest and penalties of €1.29m.

Another company, Old Darnley Lodge, made a €1.58m settlement comprising of unpaid PAYE and PRSI of €724,303 and interest and penalties of €860,383.

The defaulters list published by the Revenue Commissioners yesterday includes seven other €1m-plus settlements.

Former Fianna Fáil senator Eddie Bohan paid out a little more than €2m in unpaid tax, interest and penalties. Revenue found Mr Bohan, a publican and auctioneer, also hid untaxed funds in offshore accounts.

James Walsh, a retired company director with an address in Corbally, Limerick city, made a €1.3m settlement. Revenue found Mr Walsh had underpaid income tax and VAT and also had untaxed income in offshore accounts and single premium insurance products.

Brendan Comiskey, a solicitor with an address a 4 Avonmore, Foxrock, Dublin, paid €450,416 in tax and €945,812 in interest and penalties. He held a bogus non-resident bank account, undeclared income tax, VAT, capital gains tax and also held illegal offshore assets.

Garuda, the refrigeration company owned by Michael Lowry TD, made a €1.6m settlement and he reached a settlement of €192,000.

Patrick Kieran, of Ivy House, Mount Avenue in Dundalk, Co Louth, made a €1.1m settlement.

Patrick Lynch, a Co Cavan grocery and petrol retailer, settled €1.2m in tax, interest and penalties for not paying his full income tax liability and also for holding untaxed funds in single premium insurance policies..

Patrick McCarthy, a company director from Grantstown, Co Waterford, paid out €1m for under-declaring income tax and also from having a bogus non-resident bank account.

Elsewhere, Donegal farmer Joseph Alexander paid out €923,835. His interest and penalty bill was more than twice the tax owed.

John Foley, a haulage contractor from Charleville, Co Cork, paid out €452,058 for under-declaring income tax, VAT and for holding a bogus non-resident bank account.

Joseph Burns, a taxi driver and plasterer from Rush in Dublin, paid out €450,000.

In the three months to end June Revenue reached 136 settlements totalling €31.7m. When its audit and investigations are included the figure was €140m. Twenty-seven settlements totalling €7.27m related to its investigation into bogus non-resident holders, 31 settlements totalling €9m related to offshore funds and 34 settlements totalling €5.37m came from its investigation of individuals who had untaxed income in single premium insurance products.