Revenue audits accrue €550m last year

Nearly €550m was collected last year via company audits and compliance checks by the Revenue Commissioners — over 11% more than was the case in 2012.

Of that amount, just over €28m was yielded from retailers and almost €36m from over 1,000 audits of construction firms. In its latest annual report published yesterday Revenue reported a total tax take of just under €37.9bn for 2013 — a rise of 3.3% on the previous year. Some 8,000 company audits yielded €312m, around 45,000 PAYE compliance checks brought in €30m and other interventions and assurance checks yielded over €200m.

With regard to the household charge — for which Revenue assumed responsibility for collecting arrears last summer — €7.6m has been collected, covering 39,227 properties. Revenue said that the bulk of that figure has been paid since the end of March. It added that it is preparing to write to as many as 250,000 property owners it believes haven’t paid the charge as yet.

However, it also noted that due to mistakes in its database, many letters may be sent in error.

More than 100,000 of the non-compliant individuals in question pay tax via PAYE and the letters will inform them that Revenue will ask their employers to deduct the charge from their pay.

Yesterday’s update showed a total tax compliance range of between 83% and 98% last year. Regarding the local property tax, 94% of people paid, with 76% doing so on time. The local property tax compliance rate, for 2014, currently stands at 90%, with €319m being collected by Revenue in the year to date.

Last year also saw Revenue secure 35 criminal convictions for serious tax and duty evasion, with 449 summary criminal convictions secured for a range of tax, customs and excise offences. This resulted in fines amounting to just over €964,000 being imposed.

Revenue also said yesterday it is set to formally begin probing 162 accounts in the Isle of Man branch of the former National Irish Bank. Late last year, the Supreme Court ordered NIB to disclose to Revenue details of Irish residents who held accounts in its Isle of Man office — which was opened in 2002. It had been thought that the long-running case may affect around 140 accounts.

“We will now be examining this information and contacting people as necessary,” Revenue said yesterday.

Total yield from Revenue investigations into offshore assets currently stands at over €1bn.