Revenue has tentatively recouped €14.4m from 86 tax settlement cases arising in the first quarter of the year, new figures show.
However, of those 86 cases 29 still had outstanding unpaid amounts attached, Revenue’s latest quarterly list of tax defaulters shows. As of the end of March, €4.1m out of the total €14.4m was unpaid.
Changes made in the last Finance Act now allow Revenue to publish the amount of a settlement remaining unpaid at the end of a settlement period.
In the case of unpaid amounts, the payer is open to Revenue’s enforcement procedures. However, Revenue said in some cases recovery of the full unpaid amount isn’t possible due to a number of reasons including companies going into liquidation.
Of the cases on the latest defaulters list 41 were for amounts exceeding €100,000 in value after interest and penalty charges were added to the outstanding unpaid tax bill.
Five cases exceeded settlements of over €500,000 and one was for over €1m.
The largest settlement was for just over €2.35m, made by Anthony Dean – owner of Dublin-based waste management firm A1 Waste.
His settlement related to the under-declaration of income tax and formed part of Revenue’s offshore funds investigation. Dublin-based PR and communications consultants Bellane Ltd settled for €51,186. The company owns PR firm Insight Consultants, which is headed up by well-known public relations agent Michael Parker.
Seven cases related to companies or persons in Cork. These included Midleton-based property agent Geraldine Murphy, who settled €110,887 after under-declaring for capital acquisitions tax; and Little Island-based vehicle repair business Quick Fit Cars, which settled for €438,508 regarding the under-declaration of Vat.
As of the end of March, €363,508 of Quick Fit’s bill remained unpaid.
Two medical consultants – Sinbha Medical in Dublin and Ralph Keane in Limerick – made the list paying around a combined €240,000 for income tax and Vat under-declaration.
Revenue has, to date, recovered €61m in unpaid tax from its ongoing investigation into the financial affairs of medical consultants.
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