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Company director makes €7m tax settlement with Revenue

Revenue Commissioners publish latest list of tax defaulters
Revenue Commissioners publish latest list of tax defaulters

A company director has made a €7m tax settlement with the Revenue Commissioners. 

Michael Murphy of 60 Highfield Road, Rathgar in Dublin made the settlement following a Revenue offshore assets investigation.  

Mr Murphy was found to have underdeclared income tax, VAT and capital gains tax. 

The Revenue Commissioners today published its latest list of tax defaulters for the three months to the end of March.  

There were two further settlements that exceeded €1m.

Retired company director John Tierney from Knapton Rd, Dun Laoghaire, Co Dublin settled with Revenue for €1.48m in relation to underdeclaration of income tax and Capital Gains Tax.

Meanwhile, Company Director James Spollen from Clara Road, Tullamore, Co Offaly settled for just over €1.04m for underdeclaration of income tax.

Also included in today's list was private investigator Cliona Woods, of Greenfields, Milltown Road, Dublin 6 for underdeclaration of income tax and VAT.

She made a settlement for €215,000 following a Revenue audit.

In the latest defaulters' list, which covers the three months to the end of March, over €24.7m in settlements was agreed with Revenue.

Of the 100 published cases, 52 were for amounts exceeding €100,000; of which six exceeded €500,000; three of which exceeded €1m.

Six of the settlements, yielding €9.2m, relate to Revenue's investigation into Offshore Assets/Funds.