Monday August 10, 2020

What will tax audits of the future look like?

If the Revenue comes knocking, make sure that you and your business are ready for it

5th July, 2020
Balancing the books: whether or not there are tax issues, a Revenue audit will take up taxpayers’ time, energy and resources. Picture: Getty

Given that the Revenue Commissioners have suspended certain audit activities because of the Covid-19 pandemic, you may rightly ask what such a visit might look like into the future. You should also ask whether you are ready for it.

A Revenue audit is a legitimate intrusion into a taxpayer’s business and is provided for by law. There may or may not be tax issues within that business, but that does not get around the fact...

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