Tax defaulters: Farmer to owe €210,000 for non-declaration of CGT

A farmer has come to a settlement with Revenue that will see him owe over €210,000 due to the alleged non-declaration of Capital Gains Tax (CGT).

Revenue has published the latest list of tax defaulters, relating to the second quarter of the year, covering the period April 1 to June 30.

The quarterly publication has two parts.

Part one relates to fines or other penalties imposed by a court in respect of several types of offenses. Part two relates to cases in which Revenue accepted an amount in settlement in relation to an offense.

Part two of the publication does not include cases in which the tax-only settlement is less than €50,000, or where the amount of the fine or penalty is less than 15% of the amount of tax.

It also does not include cases in which a disclosure was made in relation to undisclosed tax.

The farmer in question, whose other listed occupations are company director and landlord, was found to have not declared CGT following a Revenue audit case. He is one of 14 cases listed in part two of the publication.

The amount of tax to be paid was €139,528. Interest on this amount of €29,334, plus penalties of €41,859, brought the total amount of the settlement to €210,721.

Part one of the publication includes nine person whose occupation (or one of their occupations) is listed as farmer, while one other person in this part of the publication is listed as an agricultural contractor. The total number of cases (persons or businesses) listed in part one of the publication is 90.

The contractor and seven of the person listed as farmers were found by a court to have failed to lodge income tax returns.

The contractor, along with four of the farmers, were each fined €1,250. Of the remaining three farmers who were found to have failed to lodge income tax returns, two were fined €2,500 and one was fined €5,000.

Separately in part one of the tax defaulters publication, one farmer received a fully suspended 12-month sentence for delivering incorrect income tax returns; while another was fined €2,500 for misuse of marked mineral oil.


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