The number of corporate audits carried out by Irish Revenue commissioners
have more than halved in recent years, due to a more targeted campaign.
Revenue commissioners conducted 14,000 audits in 2005, far fewer than the
30,000 to 35,000 of a few years ago, the Mail on Sunday reported.
The more targeted system though resulted in much greater value-for-money for
the tax office with the returns of targeted companies have yielded an average of
about €30,000 (£20,000) compared with between €5,000 (£3,300 )and €10,000
(£6,600 )on random audits.
‘We are continuing to improve the targeting and selection of taxpayers to
increase the effectiveness of audit and compliance programmes by using a new
sophisticated risk analysis system,’ said the Revenue. ‘This selection system
allows for the screening of all tax returns against sectoral and business norms
and provides a selection basis for compliance checks and audits.’
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year