TD criticises Revenue for not applying guidelines

Companies operating in Ireland have been obliged to provide a country of residence since 1999, according to the Revenue’s own guidelines which impose a daily fine for failing to provide the relevant details.

Under the Finance Act of 1999, all companies operating in Ireland, resident or non-resident, must provide Revenue with the name of the country in which they are registered.

Despite the provision already existing in law, Finance Minister Micheal Noonan decided to legislate in relation to stateless companies, as part of his three Rs approach to the tax system: Rate, reputation, and regime.