Revenue publishes 2017 Annual Report
Announcing the publication today (25/04/2018) of Revenue’s Annual Report for 2017, Niall Cody, Chairman, said Revenue collected €50.76 billion in taxes, duties and levies in the year: “This is the seventh consecutive annual increase and €2.8 billion more than in 2016. There were increased receipts from taxes on income, up 4%, VAT up 7% and Corporation Tax up 11%.” Reporting continuing high voluntary compliance rates of over 90% across all taxes, Mr. Cody recognised “the important role taxpayers, businesses and tax and customs practitioners play in this regard”. The Chairman also announced the publication of a number of Revenue reports and papers on capital taxes; corporation tax; excise duties; income dynamics and mobility trends; and local property tax: “These are important contributors to policy discussion by providing quality statistical and economic analysis.”
Commenting on a 13% reduction in debt available for collection, Mr. Cody said Revenue intervenes early when tax payment and filing obligations are not met; and has facilitated more than 10,000 taxpayers, who had temporary payment problems, with instalment arrangements worth €94 million. Reporting that during 2017, Revenue collected €212.4 million in over 37,000 debt enforcement cases, Mr. Cody said, “the small minority who either refuse to engage with us or refuse to pay their tax are met with determined enforcement and collection action, and the additional cost of that action.”
The Chairman said Revenue tries to “make it as easy and straightforward as possible for taxpayers to be voluntarily complaint, pay the right tax and duty at the right time, and claim their entitlements.” Pointing to more than 1.8 million users of Revenue’s myAccount online service, he said Revenue will continue to improve online services and encourage customers to use them as “the quickest and most effective way to do business with us.” The Chairman also announced an extension of the Pay and File deadline for self assessed taxpayers who both pay and file online, to 14 November 2018.
Mr. Cody said that the yield from audit and compliance interventions in 2017 was €491.9 million. He said the declared value of disclosures before the May deadline of the Foreign Income and Assets Disclosure initiative was almost €84 million. On action against drugs, fiscal fraud, and smuggling, the Chairman reported Revenue seizures of illegal drugs, alcohol and tobacco products worth a combined €81 million in the year.
Stressing that Revenue wants to provide high quality service to make it easy for taxpayers to be voluntarily compliant, Mr Cody went on to say: “It is equally important that we support compliant taxpayers and protect Exchequer funds by tackling non-compliance”.
On some of the opportunities and challenges ahead, the Chairman said that Revenue is “aiming to have effective customer centric systems at the heart of how we support voluntary compliance” and is focussed on the fair and efficient implementation of possible tax and customs procedures post Brexit: “Revenue’s objective in this regard is to facilitate trade by maximising the free flow of goods to the greatest extent possible”.
Mr. Cody said that modernising the PAYE system is a priority for 2018 and that the move to real time PAYE on 1 January 2019 “represents an important step in the process of continuous improvement in service, compliance and efficiency in our administration of the tax system.”
On behalf of the Revenue Board, the Chairman paid tribute to Commissioner Liam Irwin, who retired in January 2018, and to the commitment of all Revenue staff and management in achieving these results.
Annual Report for the Year Ended 31 December 2017
Excise Trends 2017
Capital Taxes Profile
Income Dynamics and Mobility in Ireland - Evidence from Tax Records Microdata
Surveys of small and medium sized business customers – Survey 2017
Corporation Tax 2017 Payments and 2016 Returns
Illegal tobacco products research - Survey results 2017
Local Property Tax (LPT) Statistics (April 2018)
Updated end of year LPT Statistics