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Revenue audit and investigations yields taxes and penalties of over €100m

A concrete manufacturing firm made a settlement of over €7.5m as those who avoided tax were named and shamed by the Revenue Commissioners yesterday.

Gleeson Concrete website
Gleeson Concrete website

NEW FIGURES SHOW that the Revenue Commission was able to claw back over €100m in taxes, interest and penalties in the last quarter of 2010.

A total of 62 defaulters were named and shamed by the government yesterday including one concrete manufacturing firm which made a settlement of €7.65m with the taxman last year, the fourth highest on record since 2002.

In the three month period to 31 December 2010, there were 62 settlements accepted where cases were agreed and paid by the respective taxpayers to a total of €20.97 million of which the detail have been published.

Of the 62 published settlements 31 were for amounts exceeding €100,000; of which seven exceeded €500,000 and there were two that exceeded €1 million.

The commission said that audit and investigation programmes yielded exactly €116.1m including taxes, interest and penalties in the last quarter of 2010.

In the case of one company, Gleeson Concrete in Limerick under declared corporation tax, VAT, and PAYE/PRSI which was uncovered during an investigation into the use of trusts and offshore structures to evade tax.

The company, which is based in Donohill, Co Tipperary, was forced to make a settlement of €7.65m.

The second highest settlement was also over a million with quarry operator John Gallagher from Meath forced to pay €3m after he under declared on income tax and PAYE/PRSI.

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About the author:

Hugh O'Connell

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