Republic of Ireland – Audit and Investigation SettlementsMonday, June 30th, 2008
Revenue publishes Defaulters List
The issue of Iris Oifigiúil dated 24 June 2008 contains details of published audit /investigation settlements completed by Revenue in the period 1 January 2008 to 31 March 2008.
The list is published in two parts:
Part 1 lists every person upon whom a fine or other penalty was imposed by a court. This includes the following categories:
- failure to file a return
- filing an incorrect return
- illegal selling of tobacco
- cigarette smuggling
- various excise and licensing offences
Part 2 lists audit settlements where the Revenue Commissioners accepted a specified sum in excess of €12,700/€30,000 in settlement of any additional liability for tax, interest and penalties instead of instituting proceedings for the recovery of the penalties and where:
- a qualifying disclosure was not made by the taxpayer prior to the commencement of an audit and
- the amount of fine or penalty included in the settlement exceeded 15% of the tax.
In the three-month period to 31 March 2008 there were 111 settlements accepted which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total €20.14million.
Of the 111 published settlements, 52 were for amounts exceeding €100,000; including 10 exceeded €500,000 and 1 of that 10 exceeded €1,000,000.
The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to 31 March 2008. The total yield from Revenue audit and investigation programmes settled in the period 1 January 2008 to 31 March 2008 was €147.6 million (including tax, interest and penalties).
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