Revenue publishes Headline Business Results for 2007
Revenue today (04/01/2008) published preliminary business results for 2007.
The most significant results in 2007 were:
- Tax revenue, at €47,247 million was up 3.7% on the previous year. All taxes were ahead of 2006 except Stamp Duty, - €530 million and Corporation Tax - €292 million. However overall tax revenue in 2007 was down €1.8 billion on profile.
- Special investigations yielded a total of €132.24 million in 2007. Of this total, Offshore Assets yielded €54 million, the Single Premium Insurance Policy investigation €30.5 million, Ansbacher €35.2 million and Bogus Non-Resident accounts €10 million. The cumulative total from special investigations currently stands at €2.4 billion.
- The construction sector project yielded a total €129.6 million from 3,807 audits during 2007 in tax, interest and penalties. There were over 40,000 assurance checks in the construction sector during 2007 yielding an additional €21.8 million. Total yield was €154.1m
- Total audit and assurance check activity yielded €736 million, an increase of €44m on 2006.
- There were fourteen convictions for serious tax and duty evasion in 2007, and at year-end there were 101 cases being processed with a view to prosecution.
- Drugs with an estimated street value of €135.2 million were seized; cigarettes with a value of over €24 million, an increase of over 33% on last year, and €410,000 of suspected criminal cash was detained by our Customs Service.
Speaking today, the Chairman of the Revenue Commissioners Mr. Frank Daly said: "These figures represent a successful year for Revenue across our wide range of business areas. They are mirrored by the delivery of effective customer service to a continuously increasing and diverse customer base".
Mr Daly added: "Revenue’s role is more than a tax and duty collection agency. We provide a key input to the economic and social fabric of the country. Certainly our work delivers the resources for schools, roads, hospitals and the myriad of other services that add to everybody’s quality of life - but it also plays a critical role in encouraging economic development and protecting society".
The Headline Results:(PDF, 97KB)
[Ends 04/01/2008]
