Tom Maguire: Have your tax affairs in order when Revenue comes knocking

The key to a successful outcome in any audit is to take a proactive approach to compliance by doing regular self-reviews and ensuring that everything is as it should be

6th June, 2021
Tom Maguire: Have your tax affairs in order when Revenue comes knocking
When you receive a notification of an audit by the Revenue, you can still make a prompted disclosure, but you typically only get 21 days’ notice prior to it commencing. Picture: Getty Images

The Tax Appeals Commission (TAC) published a decision recently which held in favour of Revenue going beyond the four-year statute of limitations on audits.

It did so in a case where an official had “reasonable grounds for believing” that there were irregularities in the prior years due to neglect or fraud.

That “reasonable grounds” test sets a bar higher than a mere hunch, but it’s still lower than concluding beyond a reasonable doubt....

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