Revenue's haul from tax defaulters exceeds €1bn

The haul from special inquiries launched by the Revenue in recent years now exceeds €1 billion

The haul from special inquiries launched by the Revenue in recent years now exceeds €1 billion. The latest list of tax defaulters, published yesterday, was dominated by holders of bogus non-resident accounts and included the late owner of one of the Taoiseach's favourite pubs, writes Colm Keena.

The late Mr Thomas Kennedy, of Kennedy's pub, Drumcondra Road, Dublin, made a settlement of €1.059 million.

The settlement comprised €281,774 in undeclared income tax and VAT, with the rest being made up from interest and penalties.

The pub, which is across the road from the Taoiseach's constituency office, St Luke's, has long been associated with Mr Ahern, though a barman at the pub yesterday said it had been some time since he'd seen the Taoiseach frequent the pub.

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"I haven't seen him in years, not since he brought Bill Clinton to Fagan's up on the corner," he said.

The latest list of tax defaulters, for the three months to the end of December 2003, lists 182 settlements totalling €25.2 million.

Of the total listed, 141 cases relate to bogus non-resident accounts, making up €22.25 million of the total.

One settlement relates to the Ansbacher inquiry, and another to the National Irish Bank inquiry.

A spokesman for the Revenue revealed that the total yielded by the various special inquiries of recent years has now reached €1.002 billion.

By far the most lucrative of the various inquiries has been the investigation into bogus non-resident accounts.

The amount received in that regard in settlements with the banks is €220 million, with the banks' customers coughing up a further €494 million.

That figure is continuing to increase as more and more people are being caught.

The inquiry into offshore assets has already yielded €150 million from customers of Bank of Ireland Trust Company, Jersey, and Irish Permanent in the Isle of Man.

That inquiry has now spread to offshore funds in all financial institutions, including non-Irish ones.

Tribunals have to date yielded €48 million, with the Flood/Mahon tribunal being by far the most lucrative.

It has so far led to settlements worth €35.7 million.

The NIB inquiry has yielded €48 million to date, and the Ansbacher inquiry €42 million.

During the three months to the end of December 2003, the Revenue took in €78.87 million from audits and investigations.

Apart from the €25.2 million accounted for by the list published yesterday, there were also settlements by people whose circumstances did not qualify their cases for publication.

The largest settlement on yesterday's list was for McCarthy Meats, of Clane, Co Kildare. It paid €2.96 million.