The estate of the late Des Traynor, key figure in the
tax evasion scandal, has reached a settlement of €4m (?1.96m) with
Revenue because he held an
Ansbacher account and under-declared other taxes.
Traynor, who died in 1994, was chairman of cement giant
CRH when he was not
establishing a complex system of tax evasion for Ireland’s business elite,
whereby Irish depositors who ostensibly had money lodged in the Cayman Islands
could access it through Mr Traynor and Guinness & Mahon Bank in Dublin,
The Irish Times reports.
His name was included in the quarterly list of tax defaulters published
yesterday together with Jack Stakelum, a former associate of Traynor. The
retired accountant made a settlement of €425,000 for holding an Ansbacher
account and under-declaring income tax.
Stakelum also ran the Ansbacher accounts. He was disqualified from
involvement in the management of any company for five years. The Irish High
Court found he acted in a calculated way to facilitate tax evasion.
Does Darwin's theory apply to taxation? Colin ponders...
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs