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Committee to seek further answers from Wallace over tax affairs

The independent TD is being investigated by the Members Interests Committee after revelations about his company’s under-declaration of VAT.

Mick Wallace outside Leinster House in Dublin this morning.
Mick Wallace outside Leinster House in Dublin this morning.
Image: Laura Hutton/Photocall Ireland

THE DÁIL’S MEMBERS Interests Committee is to seek further clarification from the independent TD Mick Wallace over his tax affairs following a meeting held in private session today.

The select committee, chaired by the independent TD Thomas Pringle, met today in light of the revelations that Wallace’s construction company M & J Wallace Ltd made a €2.13 million settlement with the Revenue after under-declaring around €1.4 million in VAT that was owed.

The committee had initially written to Wallace earlier this month to ascertain the correct dates of the various actions of his company in not paying VAT on apartments sold in 2008 and 2009.

It is looking at whether Wallace has contravened Ethics in Public Office Acts of 1995 and 2001 and has asked the now insolvent M & J Wallace to give the Revenue permission to correspond with them over the affair.

The Committee said in a statement that it hoped to seek clarification on aspects of Wallace’s initial response to their queries and take up the matter at its next meeting, scheduled for next week.

A statement said: “The Committee, having received certain information from Deputy Wallace will again write to him seeking clarification on some aspects of his response.

“The Committee is hopeful that it can reach a conclusion at its next meeting which is expected to take place next week.”

Wexford deputy Wallace had said it was unlikely that the settlement could be paid but later in a statement to the Dáil pledged to use half of his TD’s salary towards paying the tax liability.

Read: Mick Wallace promises to donate half of salary to VAT repayment

Read: How long will Mick Wallace need to pay the Revenue settlement?

Wallace’s parliamentary assistant: “There were people threatening to fight me at times, loads of crazy stuff.”

About the author:

Hugh O'Connell

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