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Lowry told accountant that €372k payment was transacted years earlier, trial hears
Summary
In a trial at Dublin Circuit Criminal Court, Michael Lowry TD pleaded not guilty to charges of filing incorrect tax returns and failing to keep proper accounts between 2002 and 2007. The case centres on a €372,000 commission from a Finnish refrigeration company, which Lowry claimed should have been recorded in 2002 rather than 2006. Neale O'Hanlon, a chartered accountant who audited Garuda Ltd, testified that Lowry instructed him in 2013 to adjust the 2006 accounts to reflect the commission as a director's loan. O'Hanlon admitted the adjustment was made but argued the company would have paid less corporation tax if the payment had been recorded in 2002. Revenue later reassessed Garuda, issuing a €30,000 bill, which was paid. The trial continues before Judge Martin Nolan and a jury.
Who, what, where, when and why
What: Report matter: Lowry told accountant that €372k payment was transacted years earlier, trial hears. Procedural stage: trial
When:
- January 2007 Other
- August 2002 Hearing Or Sentence
- August 2007 Hearing Or Sentence
- 28 August Other
- August 3, 2007 Other
- 2018-06-13 Publication
Why: He said he didn't include the figure in the director's loans for 2006 because he didn't have "sufficient evidence about the transaction" and said it was dealt with in the 2007 accounts instead. CNI source report
Places mentioned
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