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Welcome to the FMB Chartered Accountants Blog. We answer all of your financial and accountancy questions, as well as keep you up-to-date with the latest news from FMB.

Revenue Publishes 2013 Annual Report

David McArdle - Friday, April 25, 2014


In their 2013 Annual Report, Revenue claim that the introduction of Local Property Tax (LPT) was a major administrative challenge for them during 2013. The end result was “exceptional” compliance rates were achieved in the first year of LPT according to Revenue. The annual report confirms that more taxpayers are using Revenue’s electronic services to engage with Revenue.


Other points from the Annual Report include:

  • 626,561 interventions (including audits) yielding €548.3 million an increase of 11.4% on 2012.

  • 8,037 audits completed yielding €311.9 million

  • 14 avoidance cases, 13 of which were under section 811 Taxes Consolidation Act 1997, settled with a yield of €2.6 million and a restriction of losses of €1.1million.

  • Interventions in 2,585 PAYE cases yielded €2.6 million. Over €6 million saved from reducing or disallowing incorrect VAT claims.

  • Details of 450 settlements made in 2013 published in Iris Oifigiúl. The settlements involved €43.8 million in tax, €17.9 million in interest and €22.8 million in penalties

Find the Board's review of the Revenue Annual Report Here.


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