Tax defaulters pay €22.8m to Revenue

More than €22.8 million in taxes and penalties was paid by 120 individuals and companies in the last quarter of 2007 to settle their liabilities with the Revenue Commissioners.

The Revenue said 57 of the settlements exceeded €100,000; seven exceeded €500,000 and three exceeded €1 million.

Labour's Finance spokesperson Joan Burton said that while the Revenue Commissioners are to be congratulated, a more vigourous approach is needed to deal with tax evaders.

"The Revenue Commissioners are to be congratulated on their continued successful pursuit of those who evade their legally due taxes and whose names appear in the Defaulters List published today," said Ms Burton.

"However, the scale of the continuing phenomenon of tax evasion is clear from the fact that defaulters have been forced to make settlements in the past three months alone amounting to almost €23m, with three settlements involving payments of more than €1m.

It appears that the threat of financial penalties and having ones name published in Iris Oifigiul is not sufficient to deter tax evasion and that far too many continue to be prepared to take a chance on getting away with
it." 

One settlement involved the brother of the Tánaiste, Brian Cowen. Christy Cowen, with an address at Clara, Co Offaly, who made a settlement of €96,351 of taxes and penalties in connection with the underdeclaration of income tax and Vat associated with his licensed premises.

In a statement this afternoon, the Minister for Finance said as he had "no involvement whatsoever in my brother’s business . . . it would not be fair to him were any greater media attentions paid to his revenue difficulties on account of my position in Government".

One of the largest settlements was made by Mr Samuel Field-Corbett with an address in Rathfarnham, Dublin 16, who paid €1.15 million for the underdeclaration of income tax afer a Revenue investigation.

Mr Field-Corbett was a close associate of Des Traynor who was one of the main architects of the Ansbacher deposits system.

A further 36 settlements concerned the Revenue’s investigation into off-shore funds - which resulted in the payment of €6.62 million in taxes an penalties.

The investigation into single premium accounts, which the Revenue started in 2005, resulted in settlements of €3.58 million from 23 individuals. To date this investigation has yielded over €443 million in unpaid taxes and penalties from 5,321 cases.

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