Revenue collects €160m from tax defaulters

The Revenue Commissioners collected almost €160 million in the first three months of the year from property developers, professionals, farmers, publicans and others who defaulted on their taxes.

The Government published the quarterly round up of tax settlements yesterday.

The list carried the names of 150 people and businesses who were forced to pay taxes, interest and penalties for a range of offences.

A statement said that the "total yield from Revenue audit and investigation programmes settled in the period January 1st to March 31st, 2007 was €157.28 million".

The amount collected from those whose names were published came to €34.35 million. The names are only published where the tax involved is €12,700 or more, or the total settlement comes to €30,000 or more.

The biggest settlement, €3.48 million, was made by Heritage Properties, a company controlled by developer Terry Devey, who made his name with a high-profile project in Smithfield on Dublin's northside. During an audit carried out in 2004, Heritage was found to have underpaid VAT. The figure included €2.15 million in tax and €1.33 million in interest and penalties. The company issued a statement saying a former employee submitted VAT returns showing liabilities lower than those actually shown to be due by its books.

Howley Civil Engineering Ltd of North Point Business Park, New Mallow Road, Cork, paid €3.17 million for a range of offences. The biggest settlement made by an individual was €2.19 million paid by solicitor Patrick Macklin of 26 North Road, Monaghan.

The payment related to underdeclaration of income tax and a bogus non-resident bank account. A large number of people set up these accounts in the 1980s and 1990s to evade paying DIRT tax on interest earned by their savings.

Another offshore tax evasion scheme, the Ansbacher accounts, featured in a €1 million settlement paid by a now deceased solicitor, Gerald Hickey of 66 Merrion Village, Merrion Road in Dublin. Michael Harty, a clothes shop owner of Clovelly, Baltrasna, Ashbourne, Co Meath, paid €1.59 million for underpaying income tax, VAT, capital gains tax and for liabilities on a bogus non-resident account.

Dentist Michael McLoughlin of Leinster Road, Rathmines, paid €1.257 million for income tax offences, a bogus non-resident account and a single premium insurance case.

Single-premium insurance policies were also promoted by financial institutions as a way of evading tax. Company director John McMahon of Stradeen, Ballymackey, Carrickmacross, Co Monaghan, paid €1.34 million on foot of a single-premium case, offshore assets and underdeclaring his income tax liabilities.

Retired jeweller, Gerard Connolly, of Sheeaun, The Kerries, Tralee, paid €1.3 million for underdeclaring income tax and using a single-premium insurance policy.

Fuel distributor, Amber Oil, of Fermoy, paid €1 million for underdeclaring corporation tax and VAT and against offshore assets.