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Irish Revenue's Tax Enforcement Work Yields Results

by Jason Gorringe, Tax-News.com, London

05 January 2018


Non-compliance "interventions" by the Irish Revenue yielded EUR492m (USD594m) last year, according to the latest figures published by the tax authority.

Revenue has published its preliminary results for 2017. They show that Revenue completed 646,633 compliance interventions during the year. There were 24 criminal convictions for serious tax and duty offences, and 1,610 summary convictions. A total of EUR5.2m was imposed in fines.

A total of 1,351 tax avoidance cases were settled, yielding EUR3.8m. There are 810 avoidance cases ongoing.

Revenue also received EUR83.9m from 2,786 disclosures as part of its final offshore disclosure settlement opportunity. Since May 5, 2017, tax defaulters whose default relates to offshore matters have been unable to avail themselves of the benefits of Ireland's voluntary disclosure regime, and now face higher penalties, publication in the Quarterly List of Tax Defaulters, and a possible criminal conviction.

Revenue Chairman Niall Cody said: "Tackling tax evasion remains a high priority and where it is uncovered, Revenue will apply the maximum sanctions and deterrents including penalties, publication, and, potentially, criminal conviction."

Cody said that, overall, there were "very high levels of timely voluntary compliance" during 2017, a year in which Revenue collected a record EUR50.7bn for the Exchequer.

The timely compliance rate for large business cases (involving an annual tax liability of more than EUR500,000) was 99 percent. The rate for medium cases (annual tax liability of between EUR75,000 and EUR500,000) was 98 percent.

TAGS: compliance | tax | business | Ireland | tax avoidance | tax authority | offshore | revenue statistics | penalties | Tax | Tax Evasion

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