A farmer from Co Kildare has been named as having secured a €526,784 settlement with Revenue after an audit found him to have under-declared income tax.
The settlement is the third-largest listed in Revenue’s list of tax defaulters for the last three months of 2023.
Revenue Commissioners accepted the settlement of farmer Martin Byrne of Beech Avenue, Kilberry, Athy, Co Kildare.
The settlement breakdown consists of €397,076 in tax, €66,176 in interest and €63,532 in penalties.
A settlement of €238,363 was listed for agricultural contractor Kelly Farm Modernisation Ltd of Knocknaboul, Ballydesmond, Co Cork after an audit has found “under-declaration of PAYE/PRSI/USC”. The settlement was broken into €134,276 in tax, €63,805 in interest and €40,282 in penalties.
Fined
Several other farmers were listed among those found to have defaulted on taxes in the last three months of 2023.
All were fined for failing to lodge income tax returns.
A fine of €2,500 was imposed on farmer Padriac Naughton of Carrowsteelaun, Claremorris, Co Mayo.
Fines of €1,250 were imposed on:
When to become a company and when to stay as a sole trader
There are plenty of ways to reduce your tax liability