This latest installment lists all those who have failed to comply with important regulations within the country, and has been issued in two parts.

Part 1 lists every person upon whom a fine or other penalty was imposed by a court. This includes the following categories: failure to file a return; filing an incorrect return; illegal selling of tobacco; cigarette smuggling; and various excise and licensing offences.

Part 2 lists audit settlements where the Revenue Commissioners accepted a specified sum in excess of EUR12,700 or EUR30,000 in settlement of any additional liability for tax, interest and penalties, instead of instituting proceedings for the recovery of the penalties and where: a qualifying disclosure was not made by the taxpayer prior to the commencement of an audit, and the amount of fine or penalty included in the settlement exceeded 15% of the tax.

In the 3 month period to 30 September 2007 there were 148 settlements accepted, which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers, and totalled EUR53.6 million.

Of the 148 published settlements, 85 were for amounts exceeding EUR100,000; 23 exceeded EUR500,000 and 8 of that 23 exceeded EUR1,000,000.

Of the 148 settlements:

• 18 settlements, totalling EUR6.06 million, related to Bogus Non-Resident holders,
• 32 settlements, totalling EUR20 million related to Revenue investigations into Offshore Funds;
• 4 settlements, totalling EUR5.88 million related to Ansbacher account holders; and
• 32 settlements totalling EUR11.20 million related to the Revenue’s Single Premium Insurance Products Cases.

The published settlements only reflect a portion of all Revenue audits and investigations concluded in the 3 month period to 30 September 2007. The total yield from Revenue audit and investigation programmes in the period 1 July 2007 to 30 September 2007 was EUR139.89 million.