Revenue receives €171m in latest tax defaults

A Co Wicklow businessman and a hardware merchant firm he co-owns have made tax settlements to the Revenue totalling €5 million…

A Co Wicklow businessman and a hardware merchant firm he co-owns have made tax settlements to the Revenue totalling €5 million, the tax authority said in its latest list of defaulters.

A payment of €2.75 million from Arklow-based Anthony Fogarty and a separate payment of €2.25 million from his firm, P Boland, of Main Street, Arklow, were the biggest settlements in the three months to the end of September.

The exchequer received €31.58 million from 141 published settlements in the period from Revenue's audit and investigation programme, and €139.3 million in unpublished settlements.

Prominent among the settlements was a payment of €543,421 from the estate of the late Phil Monahan of Monarch Properties, who died in 2003 and was the biggest developer of shopping centres in the State.

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Also on the list was Joan Williams, former secretary to the late Des Traynor, a central figure in the Ansbacher scheme. Ms Williams settled her liability for under-declared income tax with a payment of €120,000.

The Ansbacher investigation also yielded a payment of €1.02 million from Ballsbridge-based businessman Michael Gerard Keane, former owner of paint and wallpaper business Gerry Keane Ltd.

There were seven settlements of more than €1 million on a list that named several publicans, farmers, company directors and building contractors as defaulters.

These include Co Sligo retired company director and farmer Séamus Quinn, who paid €1.82 million. South Dublin retired optician Thomas Carroll paid €1.72 million. Meath farmer Frederick Shekleton paid €1.5 million.

Arthur Beesley

Arthur Beesley

Arthur Beesley is Current Affairs Editor of The Irish Times