Tax avoidance
What to do if you think you are engaged in tax avoidance
You should know that if something sounds too good to be true, it probably is. If you are unsure about a transaction, you should always seek a second opinion. You should seek advice from an independent, reputable tax advisor who has the particular expertise to understand the transaction. This should be someone who is not connected with the transaction or the promoter.
If you have implemented a transaction you think is tax avoidance, you should not claim this tax advantage when submitting your tax return.
If you have claimed the tax advantage, you should consider informing Revenue with a view to settling any liabilities. For details on how to make a disclosure, please see the ‘Informing Revenue of tax avoidance’ page in this section.
Next: Legislative tools to challenge tax avoidance