The list of every person upon whom a fine or other penalty was imposed by a Court is set to be published on Tuesday, 16 September.

The list published on Monday contains audit settlements where the Revenue Commissioners accepted a specified sum in excess of EUR12,700/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 June 30, 2008, there were 93 settlements accepted, which fall to be published. The settlements in these cases have been agreed by the respective taxpayers and total EUR12.24m.

Of the 93 published settlements 39 were for amounts exceeding EUR100,000; of which 4 exceeded EUR500,000.

Of the 93 settlements:

1. 10 settlements totalling EUR1.48m relate to Bogus Non-Resident Account holders
2. 22 settlements totalling EUR3.12m relate to Revenue investigations into Offshore Funds and
3. 14 settlements totalling EUR3.14m relate to Revenue’s Single Premium Insurance Products Cases.

The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to June 30, 2008.

The total yield from Revenue audit and investigation programmes settled in the period April 1, 2008 to June 30, 2008 was EUR153.10m.