Limerick tyre company hit with €515k tax bill

A TYRE sales agent in Limerick city has reached a settlement of €515,089 with the Revenue following an audit of its financial affairs.

KC Tyre Centre (Limerick) Ltd with a registered address on Quinlan Street which is now in voluntary liquidation, received the biggest bill in Limerick for under-declaration of PAYE/PRSI/USC, VAT and corporation tax.

The total bill of €515,089 included tax of €285,417.15, interest of €46,911.99 and €182,760.36, the latest tax defaulters list shows. As of June 30, €309,370.74 remained unpaid from the total bill.

Executive Hire Chauffeur Drive Ltd, with an address at Ormonde House, Caher Road, Camheen, Mungret, reached a settlement of €68,692 following a Revenue audit for under-declaration of PAYE/PRSI/USC.

A catering service provider, Four Court Event Catering Ltd, with an address at Garnalina, Galbally, reached a settlement of €39,608 for under-declaration of corporation tax.

The three Limerick cases were among 58 cases, with the total settlement amounting to over €11 million.

Company director Greg Clohessy of Castleconnell received a fine of €1,250 for failure to lodge income tax returns.

Derek Josephs, of Castletroy, who runs an internet cafe, was also fined €1,250 for the same offence, while Gerard McNamara of Prospect was fined €1,500 for three charges.

Winnie Connors, of Clondrinagh Park, Ennis Road, was fined €2,500 for one charge of misuse of marked mineral oil.

John Daly, of Newcastle West, has also fined the same amount in this category, as was Barry Heffernan of Knocklong. Michael Mulcahy of Dooradoyle was fined €2,500 for cigarette smuggling.

The published settlements reflect only a portion of all Revenue audits and investigations. In the three month period to June 30, a total of 1,387 Revenue audit and investigations, together with 23,877 Risk Management Interventions (Aspect Queries & Profile Interviews), were settled, resulting in yield of €115.13 million in tax, interest, and penalties.