Irish Revenue Publishes Defaulters List

by Robert Lee, Tax-News.com, London

18 September 2009

The Irish Revenue Commission has published details of its latest "defaulters list." The list contains details of audit/investigation settlements completed by the Revenue in the period April 1, 2009 to June 30, 2009. The defaulters list is made up of two parts. The first part is a list of every person upon whom a fine or other penalty was imposed by a court for committing the following offences:

  • Failing to file a return;
  • Filing an incorrect return;
  • Illegally selling tobacco;
  • Cigarette smuggling; and/or
  • Committing various excise and licensing offences.

The second section lists audit settlements where the Revenue Commissioners accepted a specified sum 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 three-month period to June 30, 2009, there were 87 settlements accepted, totaling EUR17.56m – EUR15.04m less than the previous three months. Of the 87 published settlements 38 were for amounts exceeding EUR100,000, of which eight exceeded EUR500,000 and four exceeded EUR1m.

Of the 87 settlements:

  • 1 settlement totaling EUR0.08m relates to an Ansbacher account holder;
  • 5 settlements totaling EUR2.48m relate to Bogus Non-Resident holders;
  • 14 settlements totaling EUR2.16m relate to Revenue investigations into Offshore Funds, and;
  • 16 settlements totaling EUR3.16m 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 three-month period to June 30, 2009. The total yield from Revenue audit and investigation programs settled in the period April 1 to June 30, 2009 was EUR179.40m. The total figure includes tax, interest and penalties.

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