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Irish Revenue Publishes Defaulters List,
by Jason Gorringe, Tax-News.com, London
Monday, June 15, 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 January 1, 2009 to March 31, 2009.
The defaulters list is made up of two parts, firstly 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;
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 3-month period to March 31, 2009, there were 105 settlements accepted,
totalling EUR32.6m, up EUR13.94m against the previous three months.
Of the 105 published settlements 63 were for amounts exceeding EUR100,000; of
which 15 exceeded EUR500,000 and 9 of that 15 exceeded EUR1,000,000.
Of the 105 settlements:
1 settlement totalling EUR1.40m relates to an Ansbacher account holder;
5 settlements totalling EUR3.14m relate to Bogus Non-Resident holders;
27 settlements totalling EUR4.80m relate to Revenue investigations into Offshore
Funds; and
19 settlements totalling EUR4.52m 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 March 31, 2009. The total
yield from Revenue audit and investigation programmes settled in the period
January 1 to March 31, 2009 was EUR205.7m.
The total figure includes tax, interest and penalties.
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