Revenue penalties for incorrect tax returns are too severe, incentives for entrepreneurship are much less attractive than other EU countries and the cost of living is too high, business groups have told the Oireachtas Business Committee.

US multinationals incorporated in Ireland should have their entire global operations taxed here, a leading academic has claimed.

Tax officials will be able to get warrants to inspect homes if they believe the owner is trying to avoid paying the property tax.

PAYE taxpayers are owed hundreds of millions of euro by the Revenue Commissioners in unclaimed medical expenses, bin charges, VAT rebates, and rent allowances, an Oireachtas Committee heard yesterday.