One company boss has been hit with a €7m bill after a Revenue offshore-assets probe
Settlements worth a combined €24.7 million were reached in the first three months of 2016.
A COMPANY DIRECTOR has been hit with a €7 million bill from Revenue for under-declaring taxes as part of a probe into offshore assets.
Michael Murphy, of Highfield Rd in Rathgar, Dublin, was ordered to pay almost €2.4 million in back-taxes, with the balance of the seven-figure sum coming in interest and penalties.
The 82-year-old is the director of real estate management firm Astondale Investments, which was put into liquidation in March, and Astondale Construction, which was dissolved in 2010.
Murphy was among those featured on Revenue’s latest list of tax defaulters, which detailed 100 settlements and determinations worth a combined €24.7 million.
The major cases included a bill of nearly €1.5 million for retired company director John Tierney, of Knapton Rd in Dún Laoghaire, which also stemmed from an investigation into offshore assets.
Company filings show the 81-year-old was the former director of Tierney Electrical, a firm which was dissolved in 2002 after more than 30 years in business.
Four other men had smaller settlements after Revenue investigations into offshore assets, including Donegal butcher and landlord Pat Boyle, from Meenmore, Dungloe, who was left with a €250,000 bill.
Another elderly businessman, James Spollen, of Clara Rd in Tullamore, had a settlement of more than €1 million for under-declaring income tax. He is listed as the current or past director of several construction firms, including Oakwell Developments and Spolair.
Figures from Revenue for last year showed the construction, retail and rental sectors were the most frequent targets for audits. Commissioner Liam Irwin previously told Fora construction continued to be one of the main industries of concern for tax compliance.
Here are some other notable inclusions from the defaulters list:
- ‘Private investigator’ Clíona Woods, from Milltown Rd in Dublin 6, with a settlement of more than €215,000 for under-declaring income tax
- Consultant surgeon Denis Quill, from the Galway Clinic in Doughiska, more than €428,000 for under-declaring income tax
- Barber Hussein Hassan Kaoun, from Rathcormac in Cork, nearly €485,000 for under-declaring VAT, income tax and PRSI
- Medical consultant Christine Jennings, of Templeogue Rd in Templeogue, Dublin, more than €432,000 for under-declaring PRSI and income tax
- Service station and convenience store operators Sean and John Barry of Garravagh at Inniscarra, Cork, more than €500,000 for under-declaring VAT
