Revenue crackdown on company share schemes nets €11.8m in unpaid tax
Revenue has now collected close to €12m in a crackdown on unpaid tax on share schemes after initial analysis identified several issues with employers and employees. It is understood tech workers in particular are among those affected by the Revenue project.
Many workers are unexpectedly finding they owe tax in relation to share schemes and some believed the tax had been paid by their employer.
In an update given to the Sunday Independent, Revenue said: “To date, 376 interventions have been closed with a yield of approximately €11.8m. Revenue has a number of compliance interventions which are ongoing with additional interventions planned to take place throughout 2023.
"If a taxpayer/employee believes they may have not complied with their tax obligations regarding a share scheme or indeed any other matters; they are encouraged to disclose this to Revenue.
"In order to facilitate high voluntary tax compliance levels, Revenue will engage with any employers where errors in returns have been identified.”