TWO PEOPLE MADE settlements of over a million euro each with the Revenue Commissioners in the first three months of the year, according to the latest quarterly list of defaulters.

Details of 126 cases – totalling €20.5 million - have been published today. They include a further four settlements exceeding €500,000, and 56 in excess of €100,000.

The largest settlement – of €1,592,400 – was made by supermarket proprieter Ji Rong Zheng, who is based on Dublin’s Parnell Street. Zheng was penalised for underdeclaration of VAT & income tax.

Ivan Diver of Coolcholly, Ballyshannon, Co Donegal – listed as a ‘retired employee’ – made the second largest settlement of €1,511,257

The case was highlighted as part of two Revenue investigations – one into offshore assets, and another into single premium insurance products. Diver is also being penalised for underdeclaration of income tax and capital gains tax.

The remainder of the top six cases are:

• Dublin Pool & Juke Box Co. Ltd. of Upper O’Connell Street, which runs the well-known amusement arcade ‘Dr Quirkey’s Good Time Emporium’ — €803,485.70 (underdeclaration of VAT)
• Alan Costello Builders Ltd. (in receivership) – Contarf-based building contractors — €649,771.07 (underdeclaration of corporation tax, PAYE/PRSI, relevant contracts tax & VAT)
• McStay Furniture Limited, Sarsfield Road, Wilton, Cork — €602,994 (underdeclaration of VAT & PAYE/PRSI)
• Paul Kennedy – a farmer based in Kildimo in Co Limerick — €619,882 (underdeclaration of income tax)

Settlements for lesser amounts included one by Lucan-based musician and landlord Gary Hansard – brother of ‘The Frames’ singer Glen – who was hit with taxes, fines and penalties totalling €45,281.

In total, €3.07 million was recovered as part of Revenue investigations into offshore funds.

Read: Revenue yields €114.62 million in settlements >

Jockey and travel agents amongst those who settled with Revenue >