Revenue publishes Annual Report for 2007
Josephine Feehily, Chairman of the Revenue Commissioners, today (24/04/08) announced the publication of Revenue's annual report for 2007.
The most significant developments for Revenue in 2007 were:
- €66 billion in taxes, duties, PRSI, levies, etc. collected: more than €18.5 billion repaid, giving net receipts in 2007 of over €47.5 billion - almost €2 billion above the corresponding figure for 2006. For the first time in five years, the receipts were below the Budget estimate, by €1.7 billion.
- Special investigations yielded a total of €132million in 2007. Most of this figure related to the Single Premium Insurance Policy investigation (yielded over €30million) and the Offshore Assets programme (€54million). The cumulative total for legacy investigations is now almost €2.424 billion.
- There were fourteen convictions for serious tax and duty evasion; 1,263 convictions for non-filing of tax returns and a further 500 summary convictions were obtained for various Customs, Excise and VRT offences.
- Total audit and assurance check activity yielded €734 million from over quarter of a million interventions: (251,934 which represents a 33% increase in the number of interventions over 2006).
- The ongoing construction sector project yielded a further €151.4 million in tax, interest and penalties in 2007.
- Total audit and assurance check activity yielded €734 million.
- The number of transactions conducted through the Revenue On-Line Service (ROS) showed strong growth in 2007. Payment transactions were up by 38% to over 560,000 and the value of ROS payments increased by 31% to €21.6 billion.
- Use of the PAYE anytime facilities increased significantly in 2007, with over 156,000 customers registering to use PAYE anytime and almost 330,000 self-service transactions recorded.
- Arrears as a proportion of total gross receipts stand at 1.9% - one of the lowest rates of any tax administration worldwide.
- Overall debt was €1,286 million in 2007.
- Drugs with an estimated street value of almost €139 million were seized and €494,000 of suspected criminal cash was detained.
- 74.5 million cigarettes and 1,516 kgs of tobacco, with values of €25.6 million and €433,000 respectively, were seized by our Customs Service.
Speaking today, Ms Feehily said:
"Revenue's strategy for the next three years is to be an organisation that provides excellent service, increasingly customised, and increasingly delivered electronically and which focuses our compliance activity on the riskiest cases, in the riskiest sectors"
"Our fundamental aim, in all that we do, is to make it easy for people who want to do business with us and to make it difficult for those who don't".
[Ends 24/04/08]
Contacts:
Press and Public Relations Unit
01 6794792 or 01 7024113
Email: revpress@revenue.ie
Dave Coleman
Senior Press Officer
087 8209968
Denis Harkin
Press Officer
087 2342993
Web links:
Introductory Comments by Ms. Josephine Feehily, Chairman at Press Conference
Link to details of yield from legacy investigations