Fás had to make €127k tax settlement

One of the country’s most controversial quangos, Fás, was forced into a substantial tax settlement before it closed down late last year.

The former training agency, which has now been reconstituted as Solas, revealed that the Revenue Commissioners discovered it had underpaid its taxes from 2006 to 2008.

The audit covered unpaid PAYE and PRSI amounts and led to an overall settlement of €127,643 which included interest and penalties of €21,078.