Revenue publishes headline results 2016
The Revenue Commissioners today (05/01/2017) published preliminary results for 2016. The preliminary results include data on tax collected, timely compliance rates, numbers of customer contacts, outcomes from compliance and enforcement interventions and resources deployed.
Commenting on the results published, Revenue Chairman Niall Cody, said:
""Revenue collected a record €47.9 billion for the Exchequer in 2016. Timely voluntary compliance remains strong. We continue to make compliance easier and less costly. In 2016 we extended our electronic service channels. The introduction of RevPay facilitates online payments for non-ROS customers, and Jobs and Pensions, a new online facility, allows first- time employees to register for tax online."
During 2016, Revenue completed 537,183 compliance interventions, yielding €555m. There were 17 criminal convictions for serious tax and duty offences, and 1,672 summary convictions, with a total of €5.1m imposed in fines. 2016 also saw the publication of 372 settlements on the List of Tax Defaulters.
Addressing Revenue’s response to non-compliance, Mr Cody said
"Taxpayer behaviour determines the nature and potential severity of our intervention. Those who engage in evasion can expect a robust response from Revenue where we will seek to apply the full legal sanctions available."
"Building on developments in international Exchange of Information, significant changes were made in the 2016 Finance Act in relation to the disclosure regime for Revenue audit. From 1 May 2017, tax defaulters who use offshore facilities to hide income, accounts or other assets will no longer have the facility to make a voluntary disclosure. This means that those who do not come forward before the end of April will face penalties of up to 100% of the tax evaded, publication in the List of Tax Defaulters and potentially criminal prosecution."
The preliminary results can be viewed here
[Ends:05/01/2017]