Thursday July 9, 2020

Revenue clampdowns ‘not as efficient as audits’

Tax advisors say that Revenue clampdowns on specific sectors bring in 60 per cent less in unpaid tax and penalties than regular audits.

2nd June, 2007

Tax advisors say that Revenue clampdowns on specific sectors bring in 60 per cent less in unpaid tax and penalties than regular audits.

Despite Revenue’s significant investment in ‘‘sectoral audits’’, such as the recent focus on the building sector, the Institute of Chartered Accountants in Ireland (ICAI) has told members that they are ‘‘not as successful as the case-by-case selection of audits’’.

Last week, Revenue Commissioners...

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