Retired businessman in €6.2m Revenue settlement

//Retired businessman in €6.2m Revenue settlement

Retired businessman in €6.2m Revenue settlement

A retired company director has had to pay more than €6.2 million to the Revenue Commissioners in interest, tax and penalties, according to the latest tax defaulters list.

John Joseph McCarthy, who is listed as formerly resident in Fermoy, Co Cork, reached a settlement in relation to the under-declaration of income tax, capital gains tax and stamp duty.

He was one of 88 cases settled by Revenue in the three months to the end of September, which had a combined value of €27.59 million.

The Skeffington Arms in Co Galway also reached a multi-million euro settlement during the period relating to its under-declaration of corporation tax, PAYE and PRSI, stamp duty and VAT.

It paid more than €4.1 million in taxes, interest and penalties as part of the agreement.

Meanwhile, Parnell’s GAA Club in Coolock, Dublin reached a €101,794 settlement for its under-declaration of PAYE and PRSI.

Andrew Redmond and Sons – a Co Wexford firm now in liquidation, reached a settlement of almost €1.9 million relating to the under-declaration of VAT, PAYE and PRSI.

Gerard Clarke, an agricultural contractor with an address in Co Cavan, made a settlement worth over €1.4 million.

James Connolly, a pharmacist in Co Kildare, reached a settlement worth more than €1.2 million relating to the under-declaration of income tax and capital acquisitions tax.

And Patrick Wheelock, a landlord in Co Wexford, reached a settlement worth €1.1 million relating to the under-declaration of income tax and VAT.

According to Revenue, four of the 88 settlements announced today related to its investigation into offshore funds. These settlements yielded a total of €1.82 million in the period.

A further 266 cases saw court fines being imposed, mainly relating to the failure to lodge returns or the lodging of incorrect returns.

Fines imposed in these cases totalled €548,702.


RTÉ News – Business Headlines

By | 2013-12-10T17:57:45+00:00 December 10th, 2013|Business|0 Comments