Revenue nets €1.6m from boat owners who failed to pay VAT

THE Revenue Commissioners have hit boat owners who failed to pay VAT on imported vessels for €1.6 million over the last three years.

Figures provided by the Revenue to the Irish Examiner also reveal that four boats were seized from their owners in the last four years. Three of the vessels were returned to their owners on payment of VAT and penalties owed. One craft, a motor cruiser seized in 2002, is still in the hands of the Revenue, pending legal proceedings.

The checks are carried out by the Revenue Commissioners to ensure that anyone who buys a boat abroad and brings it back to Ireland pays the appropriate amount of VAT.