Revenue collects €29m from defaultersFriday 12 March 2010 22.55
The latest quarterly list of tax settlements has been published by the Revenue Commissioners.
In the three months to the end of December there were 88 settlements, which brought in almost €29m.
The settlement exceeded €1m in seven cases. A total of €9.61m, or 11 settlements, related to investigations into off-shore funds.
There were 17 settlements, totalling €2.23m, relating to investigations into single premium insurance products.
There were nine settlements relating to bogus non-resident accounts, which yielded €1.96m.
Of the 88 settlements, 44 were for sums in excess of €100,000.
The published figures are only a portion of all Revenue audits and investigations carried out during the last three months of 2009, which yielded €119.5m of tax, interest and penalties.
Company director Robert McChesney from Clontibret Co Monaghan made a settlement of €3.6m arising out of a revenue investigation for under declaration of income tax and capital gains. It was the largest settlement by an individual on the list.
Racehorse trainer John Mulhern from Kildare made a settlement of €1.4m for under-declaration of income tax and capital gains tax.
Central Park nightclub in Galway paid €3.59m in settlement of under-declared VAT, PAYE and PRSI.
This was a result of an investigation by the Revenue's Deposit Interest Reporting and off-shore assets unit.
Gama Construction made a settlement of €2m for under-declaration of corporation tax, VAT, PAYE and PRSI.