Headline Results 2013

The Revenue Commissioners today (07/01/14) published preliminary business results for 2013.

Commenting on the preliminary results, Josephine Feehily, Chairman of the Revenue Commissioners, said:

"Despite the challenges posed by the current business environment, high levels of timely compliance were achieved in 2013, ranging between 82% and 97% for the different case sizes. We continued to support viable businesses and taxpayers who want to pay their taxes but are experiencing short term difficulties – in 2013, approximately 16,000 customers had an agreed phased payment arrangement in place covering €125m in tax debt. We continue to encourage anyone experiencing difficulty in paying their taxes to send in their returns and initiate early and meaningful engagement with us so that we can put phased payment arrangements in place for viable businesses. "

"Encouragingly, summary data regarding Relevant Contracts Tax shows a year on year increase in a range of indicators, pointing to an increased level of activity in the construction sector, this was particularly apparent in the second half of the year. "

"In 2013, over 8,000 audits were settled yielding over €300m. Over 45,000 PAYE compliance checks were carried out yielding over €30m. Altogether our audit and compliance activity, including assurance checks yielded over €550m."

"Revenue continues to challenge aggressive avoidance schemes using specific anti-avoidance legislation, the general anti-avoidance legislation in Section 811 of the Taxes Consolidation Act and the Abuse of Rights provisions set out under EU law."

"We are also committed to investigating serious tax and duty evasion with a view to prosecution."

"Of course I cannot comment on 2013 without mentioning the Local Property Tax. With neither a complete register of residential properties nor a valuation system in place, the introduction of LPT was a big challenge for us. However, the 2013 LPT compliance rate currently stands at 91% with €242m collected in respect of 2013 and €76m collected in respect of 2014. The due date for payment of 2014 LPT was 1 January. Pay now or opt for one of the phased payment methods on www.revenue.ie . Our compliance campaign in respect of 2013 has already started and will continue throughout 2014."

The results can be viewed here: Headline Results 2013

[Ends 07/01/14]