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Friday 24 March 2017

Revenue targets 'nixers' in tax-evasion crackdown

SMALL builders and handymen carrying out 'nixers' are to be targeted by Revenue in a crackdown on tax evasion.

Officials have identified repairs and renovations on existing buildings and the construction of one-off houses as high-risk areas.

Revenue is concerned that, because of the recession, an increasing number of smaller construction payments are being made with cash, allowing builders to evade tax.

A Revenue official told the Construction Industry Federation (CIF) that it "fully recognises the potential for shadow economy activity to increase in a recession".

Information gathered from Revenue's files, bank records and trade information is being used to identify firms involved in tax evasion. Last year, Revenue carried out almost 6,000 probes, resulting in tax, interest and penalties of €5.5m.

The CIF welcomed Revenue's commitment to address the issue.

Irish Independent

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