Wexford Independent TD Mick Wallace has been disqualified from involvement in companies for a period of six years by the High Court.
The ruling relates to the underdeclaration of €1.4 million to the revenue commissioners between 2008 and 2010.
Deputy Wallace was also ordered to pay legal costs of €5,000
Justice Robert Haughton described Wallace’s actions as a deliberate act of fraud on the Revenue.
Judge Haughton did however acknowledge the truthful manner in which Deputy Wallace handled the matter leading to yesterday’s disqualification.
The Judge also said it was to the credit of Deputy Wallace that his Company had paid €10,000 monthly to the Revenue Commissioners until it ceased trading after being put in to receivership by ACC Bank in 2011