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Tipperary Company €7.65m In Undeclared Taxes

Revenue Commissioners

The Revenue Commissioners have returned yields of more than €116 million from its audit and investigation programmes, during the final three months of 2010.

Iris Oifigiúil, the Irish State Gazette, yesterday published the names of 62 tax defaulters who have made recent settlements with Revenue, totalling some €21 millions, for this fourth quarter period and being only part of the total sum of €116.1 million yielded from Revenue investigations, during the stated period.

Of the 62 settlements published, 31 cases were for amounts exceeding €100,000,  7 cases exceeded half a million euro and 2 cases were above 1 million euro.

The highest single case was the Tipperary manufacturing firm of Gleeson Concrete, which made a settlement of €7.65 million in relation to under-declaration of Corporation tax, VAT and PAYE/PRSI. This case was discovered following Revenue investigations into the misuse of Trusts and Offshore Structures, put in place to evade tax.

The family business of Gleeson Concrete was first established in 1958 and has its registered offices situated on the Dooradoyle Road, in Co.Limerick.  However the company operates primarily in Tipperary and has its main production facility here in Donohill, Co Tipperary.

The final financial settlement with the Company is understood to included €4.8 million charged by Revenue in extra interest and penalties.

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