Revenue reveals million euro-plus tax settlements

Three businessmen have made settlements of more than a million euro with tax inspectors
The largest sum detailed in the latest Defaulters List was paid out by Michael Murphy, a company director from Highfield Road in Rathgar, Dublin, after he was investigated over offshore assets.


He forked out 7 million euro which included more than 2 million euro in unpaid taxes.
Another settlement was made by James Spollen, from Clara Road in Tullamore, who was left footing a bill for 1.04 million euro after being audited by Revenue’s tax experts.
The third of the big payments was made by retired company director John Tierney, of Knapton Road in Dun Laoghaire, who paid the state 1.49 million euro in taxes, interest and penalties.
The Revenue said that in the three months to the end of March 100 settlements with taxpayers were finalised, bringing in 24.7 million euro for the state.
They included six cases worth more than 500,000 euro and six cases linked to Revenue inquiries into offshore assets and funds which saw the state collect 9.2 million euro.
The list of people making settlements included the usual mix of publicans, builders, landlords, company directors and farmers but also had hairdressers and barbers, medics, a fun fair operator, a casino boss in Kerry and a private investigator in Dublin.
Revenue said only a small proportion of settlements are published when extensive voluntary disclosure options are not taken up and the default arises as a result of careless or deliberate behaviour.
It said 1,618 audits and investigations were finalised from January to the end of March, bringing in 155 million euro for the state.