Two Wexford men have made settlements with the Revenue Commissioner
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 addreess 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 Revenue audit and investigations together with 23,365 Risk Management Interventions (Aspect Queries & Profile Interviews) were settled in the period 1st October 2014 to 31st December 2014 resulting in yield of €149.44 million*.
The total figure includes tax, interest and penalties.