Bogus depositors repay €30m

THE latest name and shame list of tax defaulters includes the biggest tranche of bogus non-resident account holders to date, but the Revenue Commissioners said there were more to follow.

Altogether, 373 bogus depositors paid a total €30.08 million in the three-month period from April 1 to June 30 in settlements. The figure includes tax on undeclared income, interest and penalties.

The most high-profile figure on the list is Fianna Fáil TD and hotelier Michael Collins, who settled for €130,602, which included €32,001 in unpaid tax and interest and penalties of €98,601.

Mr Collins, of Patrickswell, Limerick, was one of 78 defaulters who settled for sums in excess of €100,000, seven of whom reached settlements in excess of €500,000.

The largest sum was paid by businessman Brendan Galligan of Rathcolman, Mullingar, Co Westmeath, who made two settlements, a personal one of €882,610 and one of €767,898 in respect of his company, Mullingar Travel.

The next largest was a €884,194 settlement reached by Elizabeth O’Connor, a restaurateur with an address at Arklow Road, Gorey, Co Wexford. Joseph C Daly, a company director from Priory House, Clancy Strand, Limerick, paid €800,000 in a settlement that also included undeclared VAT.

Settlements also related to the Revenue Commissioners’ investigation into National Irish Bank’s offshore investment scheme. The largest sum was received from Christopher Jones, a market gardener from Beauhill, Whitestown, Rush, Co Dublin, who settled for €804,592, which included undeclared capital gains tax.

A number of cases relating to the ongoing Ansbacher investigation were also included. Sums of €75,000 were received from Colm Hyland, listed as a former company director of Sunnyside, Lr Glenageary Road, Dun Laoghaire, Co Dublin, and retired company director Robert D Willis of Hainault Park, Foxrock, Dublin 18.

Most of the cases, however, feature defaulters in the Munster region, and the single biggest group were farmers, who account for almost one-third of the total. Company directors, publicans and tradesmen also feature prominently throughout the list.

Bogus non-resident accounts made up the bulk of the published settlements released yesterday, but there were a further 586 unpublished settlements with people who availed of voluntary disclosure breaks or were liable for smaller sums. These settlements yielded €102.89 million.

A further 3,978 people were audited and found responsible for an additional €7.99 million and 284 people were fined for miscellaneous offences including failure to file returns and illegal tobacco sales. The total intake from revenue investigations from April to June came to €147.8 million.

This is the third quarterly list to include bogus non-resident account holders. The January to March period yielded €28.63 million from 285 cases. A spokesman for the Revenue Commissioners said last night it was expected bogus depositors would feature prominently in the next few lists to come.