Revenue targets avoidance schemes

THE Revenue Commissioners are ratcheting up anti-avoidance activity according to chairman Frank Daly, who was speaking at the Institute of Chartered Accountants conference in Druid’s Glen yesterday.

Mr Daly said the Revenue is actively challenging 46 avoidance schemes — 26 of which relate to direct taxes and 20 to indirect taxes. He added that about half of the schemes are at various stages in the appeal process — seven have reached the higher courts.