Revenue has published its quarterly list of tax defaulters, which includes the largest settlement made in the history of the State.
There were 150 names published, and these paid a total of €55.5m. A €22m settlement by Bovale Developments - the company owned by Michael and Tom Bailey - significantly boosted the figures.
Bovale Developments owed €12.4m in tax. Interest and penalties added an extra €10m to their bill. They were caught owing money on PAYE, PRSI, corporation and income tax. The Revenue's investigation was related to the Mahon planning tribunal.
There, it emerged that Michael Bailey made payments of up to £40,000 to former Minister Ray Burke in relation to re-zoning land in North Dublin. He paid a further £20,000 to former city and county manager George Redmond.
The next biggest settlement on today's list is by the late Liam McGonagle of Baily in Howth. The solicitor paid €2.7m in relation to an Ansbacher account.
Insurance brokers O'Driscoll & O'Neill of Upper Mount Street, Dublin, also made a significant payment of €2.3m for under-declaring PAYE, PRSI and corporation tax. The next biggest settlement was retired optician Peter Crowley of Bishopstown in Cork. He paid €2.2m.
Another well known name to appear on the list is musician Paddy Cole. He paid €834,000 for under-declaring income tax and holding a bogus non-resident account. Former Cork hurler Gerald McCarthy of Princes Street, Cork city, made a settlement of €432,000.
