Friday 20 September 2019

Revenue demands €2.35bn more in tax

Finance Minister Paschal Donohoe. Photo: Niall Carson/PA
Finance Minister Paschal Donohoe. Photo: Niall Carson/PA

Gordon Deegan

Amended tax assessments by the Revenue Commissioners last year resulted in the Revenue demanding an additional €2.35bn in tax.

According to figures provided by Minster for Finance, Paschal Donohoe, the €2.35bn came from 915 amended tax assessments in 2018.

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The assessments were made by the Revenue’s ‘Large Corporate’ and ‘Large Cases-High Wealth Individuals’ divisions.

In a written Dáil reply to Deputy Michael McGrath, Minister Donohoe stated that a significant portion of the increased liabilities arising from the amended assessments are under appeal to the  Tax Appeals Commission.

The original amount of the assessment for the 915 cases in 2018 totalled €4.99bn and this increased by €2.35bn to €7.34bn.  The €2.35bn in additional tax demanded by the Revenue Commissioners from amended assessments last year is more than ten times higher than what was demanded from amended assessments in prior years.

In 2017, Revenue sought an additional €260m in addition to the original assessment of €2.49bn.

 Revenue sought an additional €70m in 2016 in an amended assessment on the original tax assessment of €1.8bn concerning 458 cases.

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