Top investor told taxman his income was as little as €10,000

Revenue probes lavish lifestyle

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January 23 2021 02:30 AM

A businessman claimed to have generated income of as little as €10,000 a year despite buying and selling properties worth millions of euro in Ireland and abroad, and having three children privately schooled.

A determination just published by the Tax Appeals Commission notes that the businessman appealed income tax assessments from the Revenue Commissioners for a total of €1.6m in relation to the period from 1999 and 2008.

The individual’s name is redacted in the ruling – but is understood to be a leading Irish entrepreneur.