Figures published in Iris Oifigiuil show that there were 371 settlements with the Revenue up to the end of September 2003. These settlements from tax defaulters totalled just over €43m. Five of the settlements exceeded €1m.
O'Connor's, Nenagh Shopping Centre, made a settlement of €2.1m for underpayment of corporation tax, the NIB investigation and a bogus non-resident account case.
John and Frank Smith, company directors and owners of the Submarine Bar in Crumlin in Dublin, made settlements totalling just over €5m for under declaration of income tax and a bogus non-resident account case.
Of the 371 settlements, 285 related to bogus non-resident account holders and netted over €36m for the Revenue.
Seven of the cases related to the National Irish Bank investigation and totalled €3.2m euro.
There were a further 587 settlements in excess of €12,700, but because they fall under the limit, the names of the tax defaulters are not published. But the settlements in these cases total over €87m.
