Accounts & Audit
Accounts and other Documentation
While ultimately the project envisages the submission of almost all the main returns electronically this is happening on a phased basis. Our ultimate objective is to make the filing of any tax return available electronically to customers from their home or place of business.
Crucial to Revenue's concept of electronic filing is that there be absolutely no paper-filing requirement. Irrespective of the method of transmission there will be no need to submit documentation. Legislation to facilitate this and indeed other legal aspects and implications of electronic filing is in place. Accounts information required to support submissions will be specified on the return. However, all evidence required to support a return - accounts, balance sheets, certificates, evidence of entitlement to allowances and reliefs etc. should be retained either by the customer or by his/her agent. This evidence can be stored electronically or in paper format as the circumstances dictate.
Existing filing arrangements will remain for our customers who wish to continue to file paper returns. The returns themselves will follow the same format as their electronic counterparts. In other words the exact same information, such as accounts information, should be included on them.
One of the frequently asked questions in relation to electronic filing is the greater likelihood that a return might be audited if submitted electronically rather than in paper form. This will not be the case. Identical information will be sought on all returns, paper or electronic. It is intended that the same screening and interrogation techniques will apply to both. To facilitate this, information from paper returns is being captured electronically in Revenue.