Priest makes €433k settlement with Revenue

A CORK priest with extensive property interests has made a €433,475 settlement with the Revenue Commissioners following under-declaration of income tax and capital gains tax.

Fr Tadhg O’Donovan, of Parochial House Whitechurch, Co Cork, made the settlement of €187,447 in unpaid taxes and €246,029 in penalties and interest after a Revenue audit.

He was fined €6,000 on 10 charges in the District Court last year, including five charges of delivering incorrect income tax returns and three counts of delivering incorrect information in rental income statements.

Singer Brendan Shine, of Gatestown, Taughmaconnell, Athlone, Co Roscommon, has been fined €2,000 for failing to lodge an income tax return.

The details of published audit/investigation settlements completed by Revenue from July 1, to September 30 are in the latest edition of Iris Oifigiúil.

Retired amusement arcade owner Frank Lehane, Blenheim Lodge, Halfway House, Co Waterford, made the biggest settlement by an individual of €1,303,536, €338,536 in unpaid tax and €965,000 in penalties and interest for the under declaration of income tax, capital gains tax and VAT.

Retired postmaster Thomas Wiseman, of Glencairn, 37 Ardmahon Estate, Well Road, Cork, made a settlement of €1.3m, €429,000 in unpaid tax and penalties and interest of €871,000, as a result of underdeclaration of VAT, income tax and PAYE/PRSI.

The settlement also involved a revenue bogus non-resident account case and an offshore assets investigation case.

There were 76 settlements accepted by the Revenue which fall to be published in the period.

The settlements have been agreed and paid by the respective taxpayers and total €17.66m.

There were four settlements totalling €2.93m related to bogus non-resident account holders, while 13 settlements totalling €2.64m relate to Revenue investigations into offshore funds.

“The total yield from Revenue audit and investigation programmes settled in the period July 1 to September 30 was €97.20m,” Revenue said.

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