Tax defaulters cough up €27.68m

PAYMENTS totalling €9.2 million have been made to the Revenue Commissioners by members of a well-known construction family and two associated companies.

The total paid by the 138 tax defaulters, named and shamed yesterday, was €27.68m.

The payments by brothers George, James and Raymond Stanley, who run Swanward Enterprise and Stanley Macadam, are mostly as a result of a failed Value Added Tax avoidance scheme on property transactions. The Revenue has successfully challenged the scheme in the courts and this could net close to €300m in unpaid tax, penalties and interest payments from up to 90 separate construction companies in the coming months.