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News / June 11, 2009

Dentist settles

by Guy Hiscott

Dentist Brian Mulrean of Booterstown, Co. Dublin, has made a personal settlement of €1,896,648 to the Revenue as a result of under-declaration of income tax, capital gains tax and capital acquisitions tax, and a Revenue offshore assets investigation case.

The settlement combines a tax payment of €771,033 and €1,125,615 in interest and penalties.

Dr Mulrean’s name appears on a list compiled pursuant to section 1086 of the Taxes Consolidation Act 1997, in respect of the period beginning on 1 January 2009 and ending on 31 March 2009.

This lists audit settlements where the Revenue Commissioners accepted a specified sum in excess of €12,700/€30,000 in settlement of any additional liability for tax, interest and penalties instead of instituting proceedings for the recovery of the penalties and where:
• A qualifying disclosure was not made by the taxpayer prior to the commencement of an audit and
• The amount of fine or penalty included in the settlement exceeded 15% of the tax.

In the three-month period to 31 March 2009, there were 105 settlements accepted, which fall to be published. The settlements in these cases have been agreed and paid by the respective taxpayers and total €32.60 million.