Co-operative compliance

What are the benefits of co-operative compliance?

There are benefits for both your business and Revenue when you take part in. 

For your business these include:

  • Revenue having a better understanding of how your business works and recognising the difference between business driven and tax driven decisions
  • having a relationship with us that is based on trust, mutual understanding, openness and transparency
  • being able to predict with confidence what our position will be in relation to tax issues
  • the possibility for reduced compliance costs
  • less audit and compliance interventions from us
  • greater certainty in relation to tax exposure
  • having the opportunity to highlight problems with the tax code or its administration.

For Revenue these include:

  • having a relationship with you based on trust, mutual understanding, openness and transparency
  • being able to predict with confidence what position you will take regarding tax issues
  • having a better understanding of your business
  • greater certainty when forecasting tax yield
  • gaining business insights to inform discussions on the tax code and its administration
  • being able to focus more on audits and enforcement for the riskiest cases
  • receiving correct tax returns and payments on time
  • reduced administration costs.

Next: How co-operative compliance works