Offaly man named on Revenue's tax defaulter's list agrees to large settlement

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Offaly man named on Revenue's tax defaulter's list faces huge bill

Offaly man named on Revenue's tax defaulter's list faces huge bill

An Offaly man has been named in Revenue's latest tax defaulters list.

Liam Stones, trading as Liam Stones Engineering, based in Fahy, Rhode came to a settlement with Revenue for a total of €390,000. 

The total amount paid is made up of €250,000 in tax, €65,000 in interest and €75,000 in penalties.

It came as a result of a Revenue Revenue Audit Case and was for under-declaration of Income Tax and VAT

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Revenue says settlements are published when the "extensive voluntary disclosure options are not availed of" and the default arises because of "careless or deliberate behaviour".

Where a taxpayer has voluntarily furnished complete information relating to undisclosed tax liabilities and paid the tax and interest due, settlements are not published.