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Tax defaulters agree settlements in excess of 850k

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SIX Donegal tax defaulters agreed settlements of more than 850,000 euro with the Revenue Commissioners this week.
According to the latest list published in Tuesday’s edition of Iris Oifigiúil, companies and individuals in Donegal agreed total settlements of €855,641 for a range of infringements, including having an offshore account, the under-declaration of income tax, VAT and PAYE/PRSI.
In the three-month period to 30 JUNE 2016, 101 taxpayers nationally made settlements totalling €17.44m.
The largest local settlement, €413,818, was made by O Dochartaigh Hardware TEO (now in liquidation), from Bunbeg, Gweedore, following a Revenue audit case and the underdeclaration of income tax. His initial tax bill was €249,755, before interest of €64,161 and penalties of €99,902 were added.
Helen McCarter (furniture retailer), Unit 7 Donegal Business Park, Drumrooske, Donegal Town settled for 171,508 for the underdeclaration of VAT. Her initial tax bill was €112,493, before interest of €25,265 and penalties of €33,748 were added.
Top Fresh Bakeries Ltd (now in liquidation), Killyclug, Letterkenny settled for €126,202 for the underdeclaration of VAT and PAYE/PRSI. From an initial tax bill of €84,847, interest of €7,415 and penalties of €33,939 were added.
Kilmac Haulage Ltd settled for €55,546 for the underdeclaration of VAT, Income Tax and PAYE/PRSI. The inital bill was €40,893
Hugh Boyle, a turf-cutter from Derryconnor, Gortahork, settled for €51,592 (on an initial tax bil lof €28,167) for Non-declaration of Capital Acquisitions Tax while Pat Bonner, a property developer and landlord, from Mill House, Illistrin, Letterkenny paid €36,977 for Underdeclaration of VAT. His tax bill was €21,724.

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