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LPS Tax Scandal Leaves Barely Any Cash | Cork News
A Galway-based company, LPS International Plant Limited, just paid over 106 million euros to Revenue after under-declaring VAT — a staggering sum that leaves them with barely 17,500 euros in cash. With a liquidator on the case and debts totaling 45 million euros to unsecured creditors, the fallout is brutal. Even more alarming? Another company tied to the same director, MPL Plant Hire, also faced a 4 million euro tax bill and is now similarly insolvent. This isn’t just a cautionary tale — it’s a wake-up call about how quickly tax missteps can spiral into financial collapse. Listen in…
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