The former Taoiseach, Charles Haughey, is to pay the Revenue Commissioners more than £1m in tax. The settlement, which was announced within the past hour by the Revenue Commissioners, arises from payments made to Mr Haughey by Ben Dunne, which were identified in the McCracken Tribunal Report. The Board of the Revenue Commissioners said that the figure, £1,009,435, includes interest of almost 100 per cent.
Mr Haughey had been due to appeal the original assessment of £1.165m the hearing had been scheduled to start tomorrow, but will not now take place. The Revenue's chairman, Dermot Quigley, said that the case had been difficult and complex, but that the outcome was satisfactory.
