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Revenue Commission Publishes Annual Report

by Jason Gorringe, Tax-News.com, London

30 May 2007


Frank Daly, Chairman of Ireland's Revenue Commissioners, on Tuesday announced the publication of Revenue's annual report for 2006.

According to the report, 2006 was another year of very strong tax collection performance, with net receipts amounting to EUR45.5 billion, some EUR6 billion above the corresponding figure for 2005, and EUR3.7 billion above the Budget estimate.

Special investigations yielded a total of EUR119.6 million in 2006, of which EUR88.3 million arose from the Single Premium Insurance Policy and Offshore Assets investigations. The cumulative total from special investigations currently stands at EUR2.3 billion, according to the Revenue Commission.

The report additionally revealed that there were seven convictions for serious tax and duty evasion. A further 515 convictions were obtained for summary offences and there were 1,295 convictions for non-filing of tax returns.

The Revenue On-Line Service (ROS) reportedly continued its strong growth in 2006. The number of payment transactions made via ROS increased by 40.48% to 408,575 while the value of the payments made via ROS increased by 37.19% to EUR16.6 billion.

Commenting on the annual report this week, Mr Daly said:

“Our aim in Revenue has always been to encourage people to claim every relief and credit to which they are entitled. More than that we want to make it as easy as possible for them to do so - indeed we want to make it as easy as we can for anybody to do business with us. During 2006, following measures introduced in the Budget, we committed ourselves to a series of simplification measures to make the process of claiming reliefs as easy as possible.”

He added:

“Over the next couple of years we intend to redouble our efforts to reduce the regulatory burden and simplify procedures. It’s in all our interests to make the business of tax as simple as possible and Revenue will make this a key theme of our Statement of Strategy for 2008-2010.”

The full text of the Revenue Commission 2007 Annual Report can be found in the Tax-News Resources section.

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