Amendment to finance bill 'unfair', says ICAI

The Institute of Chartered Accountants in Ireland (ICAI) has described an amendment introduced by the Minister for Finance to the Finance Bill at committee stage as 'unfair'.

The Institute said that the amendments to the 1997 Consolidation Act effectively penalise anybody who makes any kind of mistake in a tax return to the Revenue Commissioners. The report stage is due to be debated in the Dáil next Wednesday.

ICAI Tax spokesman, Kieran Ryan, called on the Minister for Finance to undo the change at report stage as he believes it could undermine the growing co-operation between the Revenue Commissioners and tax practitioners.

"This amendment will penalise an inadvertent mistake by a tax payer or an accountant and is unfair and unwise. The Revenue Commissioners rely on the cooperation of accountants nationwide to assist them in their work. This amendment will undermine that spirit.

He added that : "Inadvertent mistakes are a part of everyday life and should not be the subject of punitive measures as proposed in the Bill. It is not as if the Revenue are immune from making mistakes themselves - as the breakdown in the Revenue on Line filing system late last year proves."