Two Galway solicitors made the highest Revenue settlements during the second quarter of this year, according to figures released this week by the Revenue Commissioners.
The highest settlement in the country between April 1 and June 30 was Barry Fitzgerald, a solicitor with an address in Kiltartan House, Forster Street, who paid more than €2.5 million in taxes, interest, and penalties arising from an underdeclaration of income tax, capital gains tax, and VAT.
Mr Fitzgerald’s settlement included a total of €1,486,727.90 in interest and penalties.
Meanwhile Gerard A Moylan, a solicitor from Lake Road, Loughrea, paid close to €1.3 million in taxes, interest, and penalties arising from an underdeclaration of income tax and a Revenue bogus non-resident account investigation.
In total, nine Galway people made settlements totalling €4,560,756.39 during the three-month period covered by the latest list of tax settlements.
The quarterly settlements bulletin lists those audit settlements where the Revenue Commissioners accepted a settlement of more than €12,700 (or €30,000 for some investigations ), including tax, interests, and penalties, instead of instituting proceedings for the recovery of the penalties. People who made voluntary disclosures prior to the beginning of an audit, or who paid fines and penalties amounting to less than 15 per cent of the tax due, are not included in the list.
The full list of Galway tax settlements published this week is listed below:
Declan Bannerton
Station Road, Ballinasloe
Company director
Underdeclaration of income tax and VAT. Revenue audit case.
Tax €73,756
Interest and penalties €138,027
Total €211,783
Brendan Darcy
Carnakib, Headford
Employee
Underdeclaration of income tax and capital acquisitions tax. Revenue single premium insurance products case.
Tax €84,934
Interest and penalties €155,424.25
Total €240,490.25
John Duffy
Kilbannon, Tuam
Company director and landlord
Underdeclaration of income tax, VAT, and capital gains tax. Revenue audit case.
Tax €21,784
Interest and penalties €32,185
Total €53,969
Michael Duffy
Barnaboy, Turloughmore
Motor mechanic
Underdeclaration of income tax. Revenue bogus non-resident account case.
Tax €21,075
Interest and penalties €53,925
Total €75,000
Patrick Faherty
Máimín, Leitir Mór
Builder and landlord
Underdeclaration of income tax and VAT. Revenue single premium insurance products case.
Tax €31,555
Interest and penalties €53,925
Total €85,480
Barry Fitzgerald
Kiltartan House, Forster Street, Galway
Solicitor
Underdeclaration of income tax, capital gains tax, and VAT. Revenue audit case.
Tax €1,078,714.10
Interest and penalties €1,486,727.90
Total €2,565,442
Anne McGhee
Attigara, Portumna
Publican
Underdeclaration of VAT. Revenue audit case.
Tax €10,838
Interest and penalties €9,013
Total €19,851
Gerard A Moylan
Lake Road, Loughrea
Solicitor
Underdeclaration of income tax. Revenue bogus non-resident account case.
Tax €505,093.19
Interest and penalties €781,748.95
Total €1,286,842.14
Colm Sullivan
Leam, Recess
Farmer
Underdeclaration of income tax. Revenue audit case.
Tax €12,582
Interest and penalties €9,383
Total €21,965
