Revenue praises 95% Local Property Tax compliance

The Revenue Commissioners has lauded the strong compliance culture among taxpayers, noting a 95% rate for Local Property Tax (LPT) payments last year.

Revenue praises 95% Local Property Tax compliance

In preliminary results for 2014, Revenue said it collected just over €41.28bn in tax last year, which included €452m in LPT for the year and a further €39m for 2015.

New commissioner Niall Cody said the 95% payment rate for the property tax, along with compliance rates of 99% and 97% for large and medium-sized business cases, respectively, shows “a strong compliance culture among our customers”.

Mr Cody said the 2014 preliminary data indicates improved economic activity: “There is evidence of increased customer numbers across all taxes. In addition uptake of the Home Renovation Incentive, which was introduced to support fully tax compliant builders and to move building activity out of the shadow economy and into the legitimate economy, is an encouraging indicator of improving levels of activity and compliance within the construction sector.”

A strong underpinning of Revenue’s support for voluntary compliance is its confrontation of non-compliance on a risk priority basis, he added.

“Our headline results show we are very active in that regard. We will continue to maximise the use of data and the deployment of analytics and risk-assessment approaches to identify non-compliance and to target our resources to tackle this risk.

“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,” Mr Cody added.

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