According to a TV and newspapers, it seems to be clear that Mick Wallace knowingly underdeclared VAT. And in the year he did that or in the year his company went into liquidation, he increased his own salary from EUR 148,141 to EUR 290,000.
That creates an interesting situation, because people that bought apartments from Wallace paid VAT to him, which he was obliged to pass on to the Revenue Commission. Instead passing that money on, he kept it in his company. This sounds like clear theft!
Wallace now claims that he had intended to pay the tax at a later stage and only kept it to save his company and to save jobs. But it is very easy to claim that when you have been found out. There is a good possibility that he would nave never voluntarily given back the VAT. And even if he had genuinely planned to pay it back, it would be unacceptable because VAT belongs to the state, i.e. the tax payers and the state is not a bank for Wallace.
So, it all seems to indicate that he stole money from the state/the tax payers.
To makes things worse and to make his story even less credible, he increased his salary, so he used part of the VAT that he took from apartment buyers and stuffed it into his own pockets. To save the company? To save jobs? No way!
Should Wallace resign! Absolutely!
But we have to ask ourselves what a screwed up parliament we have in Ireland, if the other members don’t have any means to kick him out! …many even think he shouldn’t resign. Are they afraid they might sit in a glass house too and don’t want to be the first to throw the stone?