Tipperary North TD Michael Lowry has made a settlement of over €190,000 to the Revenue Commissioners for the under-declaration of income tax, according to the quarterly round up of tax settlements published by the Government today.
Michael Lowry TD has paid over €190,000 to the Revenue Commissioners for the under-declaration of income tax. Image: Bryan O'Brian
A spokesman for Mr Lowry said he was making no statement at this time. The settlement includes tax of €63,516 and interest and penalties of €128,604.
A former Fianna Fail Senator has also paid more than €2 million to the Revenue for not paying income tax and not declaring offshore assets.
Dublin-based businessman Eddie Bohan served in the Seanad between 1987 until his retirement from the Industrial and Commercial Panel last June.
The 74-year-old's pay-out was one of the biggest in the quarterly list of tax defaulters published by Revenue. The low-profile politician's settlement comprised €657,750 in tax arrears and €1.4 million in interest and penalties.
The list carries the names of 136 people and businesses who were forced to pay taxes, interest and penalties for a range of offences in the three-month period to June 2007.
The total amount paid to the Revenue audit and investigation programmes settled in the period April 1st, 2007, to June 30th was €140.36 million. Almost half that was for sums exceeding €100,000, of which 12 exceeded €500,000. Nine of those 12 exceeded €1,000,000.
Some 27 of the settlements, resulting in €7.27 million for the Exchequer, related to bogus non-resident holders. A further 31 settlements worth €9.02 million were made following Revenue investigations into offshore funds.
Among those involved were property developers, professionals, farmers and publicans.
The names are only published where the tax involved is €12,700 or more, or the total settlement comes to €30,000 or more.
The biggest settlement of €2.32 million was made by Midland Contractors Ltd, with an address in the Millhouse, Main Street, Celbridge, Co Kildare. Midland was found to have under-declared PAYE and PRSI.
The figure included €1.02 million in tax and €1.29 million in interest and penalties.
