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Revenue Commission Publishes Defaulters List

by Jason Gorringe, Tax-News.com, London

19 December 2006


Ireland's Revenue Commission last week published details of audit /investigation settlements completed in the period 1 July 2006 to 30 September 2006.

According to the Revenue, in the 3-month period to 30 September 2006 there were 141 settlements accepted which fell to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total EUR31.58 million.

Of the 141 published settlements, 64 were for amounts exceeding EUR100,000; of which 17 exceeded EUR500,000 and 7 of that 17 exceeded EUR1,000,000.

Of the 141 settlements:

  • 25 settlements totalling EUR6.97 million related to Bogus Non-Resident holders;
  • 4 settlements totalling EUR1.35 million related to an Ansbacher account holder;
  • 25 settlements totalling EUR11.03 million related to Revenue investigations into Offshore Funds; and
  • 26 settlements totalling EUR3.53 million related to Revenue’s Single Premium Insurance Product Investigation.

The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to 30 September 2006. The total yield from Revenue audit and investigation programmes settled in the period 1 July 2006 to 30 September 2006 was EUR170.88 million.


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