Former FF senator hit with €2m tax bill

A former Fianna Fáil Senator has paid more than €2m to the Revenue for not paying income tax and not declaring offshore assets, it emerged today.

Dublin-based businessman Eddie Bohan served in the Seanad between 1987 until his retirement from the Industrial and Commercial Panel last June.

The 74-year-old’s pay-out was one of the biggest in the quarterly list of tax defaulters published by Revenue.

The low-profile politician’s settlement comprised €657,750 in tax arrears and €1.4m in interest and penalties.

The list also showed former Fine Gael minister Michael Lowry and his Garuda Ltd firm made two separate settlements totalling more than €1.4m settlement for under-declaring income tax and VAT.

Independent TD Mr Lowry is listed for a €192,120 payment while Foxrock Co Dublin-based refrigeration firm Garuda Ltd handed over €1.2m.

Revenue collected almost €32m from tax defaulters in the three month period up to the end of June.

Of the 136 settlements accepted, nine were over €1m and 12 exceeded €500,000.

A total of 37 settlements worth €7.27m were seized from bogus non-resident accounts.

A further 31 payments totalling €9.02m related to Revenue investigations into offshore funds.

Another 34 settlements comprising €5.37m came from the Revenue’s Single Premium Insurance product cases.

When smaller amounts are taken into account, the total yield from Revenue’s audits and investigations between April 1 and June 30 was €140.36m.

Father-of-four Mr Bohan has business interests in auctioneering and the pub trade.

He is a former president of the Vintners’ Federation of Ireland and a former chairman of Dublin Licensed Vintners.

A native of Co Longford, he now lives in Orwell Park in the Dublin suburb of Rathgar.

A long-running Revenue investigation into the financial affairs of Tipperary North TD Mr Lowry began more than ten years ago when the McCracken Tribunal discovered payments by Dunnes Stores to the politician and his firm.

Revenue officials sent a file on the matter to the DPP who decided that no prosecution would be pursued against Mr Lowry.