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Revenue made E550m from audits in 13

Tuesday, January 07 16:37:00

Audits and compliance activity, including assurance checks, yielded over E550m to the Revenue Commissioners last year, its said today.

In 2013, over 8,000 audits were settled yielding over E300m. Over 45,000 PAYE compliance checks were carried out yielding over E30m. Altogether our audit and compliance activity, including assurance checks yielded over E550m.

Commenting on the preliminary results, Josephine Feehily, Chairman of the Revenue Commissioners, said: "Despite the challenges posed by the current business environment, high levels of timely compliance were achieved in 2013, ranging between 82pc and 97pc for the different case sizes. We continued to support viable businesses and taxpayers who want to pay their taxes but are experiencing short term difficulties - in 2013, approximately 16,000 customers had an agreed phased payment arrangement in place covering E125m in tax debt. We continue to encourage anyone experiencing difficulty in paying their taxes to send in their returns and initiate early and meaningful engagement with us so that we can put phased payment arrangements in place for viable businesses."

Regarding the Local Property Tax, she said that, with neither a complete register of residential properties nor a valuation system in place, the introduction of LPT was a big challenge for her office.

"However, the 2013 LPT compliance rate currently stands at 91pc with E242m collected in respect of 2013 and E76m collected in respect of 2014. The due date for payment of 2014 LPT was 1 January."