Irish Tax Administration publishes Annual Report

Mr. John Capplis's picture
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The Irish Tax and Customs Administration Revenue Commissioners has recently published its Annual Report 2014. 

Niall Cody, Chairman of the Revenue Commissioners recently announced the publication of Revenue's Annual Report for 2014.

Speaking at the launch, Mr. Cody said:

"In 2014, Revenue collected €41.4 billion, up 9.3% on 2013 and the fourth successive year-on -year increase in returns to the Exchequer. All of the main taxheads recorded growth with Income Tax up 8.8%, Corporation Tax and VAT up 8.1% and Stamp Duty up 26%." 

High levels of timely payment and returns compliance rates were maintained in 2014 and ranged from 99% to 84% depending on case size.

Mr Cody highlighted the results from Revenue's compliance programme in 2014 which included over 437,000 compliance interventions yielding over €610 million - an increase of 11% over 2013. 

Specific business sectors are and will continue to be a feature of Revenue's compliance approach. Revenue's National Contractors Project has yielded €19m since it started and the Medical Consultants Project, which has yielded nearly €16m from 279 interventions, has been extended nationally. 

Other significant results for 2014 include: 

The total cumulative yield from the investigation into offshore assets exceeded €1 billion during the year.

483 tax avoidance cases, of which 6 involved the general anti-avoidance rule were settled resulting in a yield of €13 million, (including interest and penalties) and the future restriction of losses of €1.6 million. 

6,158 drug seizures and 201,140 litres of illicit fuel were seized. 53.4 million cigarettes and 9,824 kg of tobacco, valued at €25.47 million and €4.22 million respectively were also seized.

In excess of €4 million in VAT saved using our Real Time Risk assessment technology. 

27 criminal convictions obtained for serious tax and duty evasion. 

Debt available for collection was €907 million, down €102 million (10%) on 2013. Debt available for collection as a percentage of gross receipts was 1.62%, down from 1.95% in 2013. 

At the end of 2014 there were 8,908 taxpayers or businesses, covering €104 million in debt, in phased arrangements to pay their tax liabilities. 

989,611 customers now registered for our PAYE anytime service, up 13%. 

2.33 million items of correspondence processed and 2.3 million 1890 phone calls answered.

The Annual Report can also be accessed here.