Revenue has published the ‘List of Tax Defaulters‘ in respect of the period April 1, 2021 to June 30, 2021 and there are three individuals involved in agriculture listed among those who made settlements.
Michael Buckley, a farmer from Kilcummin, Killarney, Co. Kerry made a settlement of €153,972 in respect of a Revenue audit case and is listed under ‘Part 2’ of the list.
This related to under-declaration of Capital Gains Tax and Income Tax and the settlement included interest and penalties.
Diarmuid Geaney, an agri-contractor and farmer from Carraig na Bhfear in Co. Cork made a settlement also in respect of a Revenue audit case.
He made a settlement of 100,841.88 for under-declaration of Income Tax – this figure included interest and penalties.
The third settlement was made by Patrick J. McKeon of Bunninadden, Co. Sligo, an agricultural supplies provider and farmer, in respect of a Revenue audit case.
His settlement figure amounted to €89,103.39 for under-declaration of Income Tax and VAT and includes interest and penalties.
Revenue settlements
Revenue accepts settlement offers instead of initiating court proceedings.
It said that settlements are published when the extensive voluntary disclosure options are not availed of, and the default arises because of careless or deliberate behaviour.
In ‘Part 2′ of the tax defaulters’ list, the total number of settlements published is 18. The total value of these settlements is € 3.39 million.
Revenue said that the published settlements reflect only a portion of all Revenue audits and investigations.
In the three-month period to June 30, 2021 a total of 275 Revenue audit and investigations, together with 17,263 Risk Management Interventions, were settled, resulting in a yield of €152.7 million in tax, interest, and penalties.
Court involvement with tax defaulters
Subject to certain criteria, in settlement cases where there is no agreement to a penalty, or a person fails to pay an agreed penalty, the court determines the penalty.
Details are published when the court-determined penalty exceeds 15% of the total tax and the total of the tax, interest and penalty is more than €35,000, and a qualifying disclosure has not been made by the person involved.