Building firm pays almost €7m in tax settlement

A Dublin building firm that built developments in Castleknock and Templeogue has made a €6.936 million settlement with the Revenue Commissioners. It is the largest settlement ever published.

Torose Construction Ltd, with an address at 12 Berkerley Street, Dublin 7, paid underdeclared corporation tax and VAT of €3.32 million and interest and penalties of €3.60 million. The company went into liquidation on October 22nd, 2002.

The registered directors of the company are Mr Patrick Keegan, of Booleigh, Nurney, Co Kildare, and Mr Allan Mee, of Enslin Road, Eltham, London, England. Neither man could be contacted yesterday.

Mr Keegan and Mr Mee were appointed directors of the company in January 2002. Mr Laurence Keegan, of Auburn Drive, Castleknock, Co Dublin, resigned as director on the same date.

Mr Patrick Keegan and Mr Mee are directors of Screen Developments Ltd, a property company set up in October 2002 and with the same address as Torose.

Torose is on a list of tax defaulters published in Iris Oifigiúil yesterday, which records 66 settlements worth a total of €14.68 million. The list covers the period July 1st to September 30th, 2002.

Mr Michael Drummond, a property letting company director, of Tara Court, Glasheen Road, Cork, made a settlement of €1 million in underdeclared income tax and VAT, with over half the amount being interest and penalties.

Mr James Stanley, a company director from Claremount Road, Sandymount, Dublin 4, paid €925,788 arising from underdeclared income tax, €528,011 of which was interest and penalties. Mr Stanley's settlement was one of 11 settlements on the list which arose from the Revenue's National Irish Bank investigation.

Property developer Mr Kevin McNulty, of Red Bog, Blessington, Co Wicklow, made a €538,784 settlement arising out of underdeclared income tax and capital gains tax.

Ms Patricia Wojnar, of Kilfenora House, Kilmancanogue, Co Wicklow, a company director, made a settlement of €292,039 arising from the underdeclaration of income tax. Ms Wojnar's settlement came as part of the Revenue's offshore funds/deposits investigation. She is a director of Price Rite Wallpapers Ltd. Another director of the company is Mr Jack Stakelum, the former Haughey Boland accountant who was a close friend of the late Des Traynor.

The list published yesterday was of settlements of more than €12,700 arising from audits that began before the undeclared tax was disclosed and which included penalty elements of more than 15 per cent.