Former FF deputy Foley pays €580,000 to Revenue

Former Fianna Fáil TD Denis Foley has made a €580,000 settlement with the Revenue Commissions, according to the latest tax defaulters list.

The former TD for Kerry North made the settlement in relation to undeclared income arising from an Ansbacher account.

Mr Foley paid €186,646 in tax and €393,354 in interest and penalties accruing from the default.

He resigned from the Fianna Fáil parliamentary party in 2000 after it was revealed he was an Ansbacher account holder.

Published today, the list shows 182 individuals and companies made settlements totalling €32.25 million with the Revenue between October and December last year.

A total of 118 settlements totalling €22.97 million related to Bogus Non-Resident holders.

Of the 182 published settlements, 63 were for amounts exceeding €100,000; 14 exceeded €500,000; and three exceeded €1,000,000.

Car dealership Murphy & Gunn in Rathgar, Dublin 6, topped the list with a €5.2 million settlement in relation to undeclared income from a bogus non-resident bank account as well as undeclared VAT, PAYE and PRSI.

Other major settlements included a €1.7 million from Cork publican Finbarr Cogan for undeclared income tax, VAT and PAYE.

Former Kerry GP George Lyons made a settlement of €1.2 million in relation to a bogus non-resident account held in his name.

The Revenue said its total yield from audit and investigation programmes in the period was €217.19 million.

There were an additional 505 settlements in excess of €12,700, but these were too small to be published. The settlements in such cases total €164.24 million.

In addition, a further 4,274 audits completed during the period resulted in settlements totalling €20.70 million.