In Ireland, Revenue releases a list every quarter. It is published in Iris Oifigiúil, the official state gazette, and it lists people and businesses that have either settled with the tax authorities or been fined by the courts. Outside of the communities that are immediately impacted, the list is routine, public, and mostly unread.
However, seeing a well-known local name on it carries a weight that goes far beyond the numbers on the page in places like Ballaghaderreen, a sleepy market town in the west of County Roscommon. Gerard Cafferkey, a property developer and director of a company, was one of those names for the first quarter of 2026. He paid with Revenue for more than €173,000 for the under-declaration of income tax and the non-declaration of VAT.
The Gerard Cafferkey Revenue settlement is small in comparison to other items on the Q1 2026 list, but it tells a well-known tale of the construction and real estate industries, which have historically been responsible for a disproportionate amount of Ireland’s tax compliance issues. The whole Irish market’s trajectory—the boom years, the 2008 crash, the protracted, sluggish recovery, and the present spike in development activity driven by housing demand—would have been experienced by a real estate developer working in the west of the country.
In this industry, revenue audits frequently reveal problems that have accumulated over several tax years, and settlements usually include both the unpaid principal and interest that has accrued while the charge remained unresolved. The publicly available accounts did not include a thorough breakdown of the Cafferkey settlement, including the amount of the original tax, interest, and penalty. However, the overall amount of nearly €173,000 indicates that the dispute encompassed a significant length of time.
Because Cafferkey’s case is part of a much bigger picture that Revenue published concurrently, it is important to comprehend the broader context of the Q1 2026 defaulters list. By the end of March 2026, 21 settlements totaling €117 million had been recorded for the first quarter, with €112.8 million remaining due. LPS International Plant Limited, a plant and machinery firm located in Galway, reached a settlement of €106.6 million for the under-declaration of VAT, making it the single highest case on the list.
Revenue has admitted that it might not be able to collect the entire sum owed because the company and a subsidiary company, MPL Plant Hire Limited, are currently in insolvency. The tax authorities characterizes this practical outcome of insolvency as a known restriction of its enforcement powers; it is annoying, but not uncommon, when businesses wind down owing significant amounts.
Revenue’s quarterly list is a useful resource because it covers a wide range of individuals and companies, which goes beyond the headline numbers. John Reid, a Gorey-based landlord and solicitor, is on the Q1 2026 list. He still owes €1.7 million in income tax. It includes the company that owns the French eatery Chez Max on Palace Street in Dublin 2, which paid €265,470 to cover staff and corporation tax.
Among them is Bunclody, Colorado-based utility pole supplier Cashwood Poles Limited. Wexford, which fully paid the €456,550 compensation that was agreed upon. From a developer in rural Roscommon to the proprietor of a restaurant in Dublin, they all have one thing in common: Revenue discovered a disparity, started legal action, and found a settlement within the quarter.
Observing these listings over time gives the impression that the quarterly publishing has a purpose beyond debt recovery. In contrast to a private audit resolution, being on it has reputational repercussions. Working in a comparatively tiny community in Colorado is difficult for someone like Gerard Cafferkey. Roscommon, regardless of the sum, the settlement’s public aspect is important.
Revenue has said that by eliminating any expectation of anonymity, the publishing discourages non-compliance. The effectiveness of that deterrence is actually debatable; the lists keep coming up every quarter, and the same industries frequently show up on them. Landlords, publicans, lawyers, building companies, and property developers. The categories usually don’t change, but the faces do.
The Q1 2026 numbers make it evident that Revenue’s compliance activity is producing large yields. The agency’s broader actions for the quarter totaled 17,891 cases outside of the published defaulters list, resulting in almost €175.5 million in collected tax. The majority of Revenue’s recovery activity actually takes place at that figure, which is attained through audits, compliance inspections, and settlement agreements that never make it into the official list.
From LPS International to Gerard Cafferkey, the names on the quarterly defaulters list indicate instances in which a settlement was reached or a penalty was imposed as a result of legal action. They are a visible part of a far broader, largely undetectable enforcement operation that operates continuously in the background of Irish business.
