Thursday 22 August 2019

Two businessmen make tax settlement totalling €389,376

Two Wexford men have made settlements with the Revenue Commissioners.

Raymond Furlong, a window sales/installation service provider from The Ramblings, Potter's Way, Bunclody, made a settlement of €363,183. The amount is comprised of tax of €229,656, interest of €64,629 and penalties of €68,898. The case arose from the underdeclaration of income tax and VAT from a Revenue Audit Case.

Chef Garrett Bradshaw with an address at Railway House, Coolnaveeagh, Gorey made a settlement of €26,193. The amount is a penalty determination by the courts relating to an underclaration of VAT and RAYE/PRSI in the amount of €65,482.

In total 99 cases were named by the Revenue Commissioners in the three month period to December 3, 2014. The settlements in these cases total €23.13 million

Of the 99 published cases, 35 were for amounts exceeding €100,000; of which 8 exceeded €500,000 ; 6 of which exceeded €1m.

Two of the 99 settlements published, yielding €0.6m, relate to Revenue's investigation into Offshore Assets/Funds.

The published settlements reflect a portion only of all Revenue audits and investigations concluded in the 3-month period to December 31, 2014. Settlements are only published when the extensive voluntary disclosure options are not availed of and the default is as a result of careless or deliberate behaviour. A total of 1,804. The total figure includes tax, interest and penalties.

Wexford People

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