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Revenue is collecting more taxes, with property tax levels ahead of target

The Revenue Commissioners collected almost 10% more taxes last year than compared with 2013. Just...
Newstalk
Newstalk

14.39 22 Apr 2015


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Revenue is collecting more tax...

Revenue is collecting more taxes, with property tax levels ahead of target

Newstalk
Newstalk

14.39 22 Apr 2015


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The Revenue Commissioners collected almost 10% more taxes last year than compared with 2013.

Just over €41bn was collected in 2014 - making the 4th successive year on year increase in returns to the Exchequer.

All the main tax heads recorded growth: income tax was up 8.8%, corporation tax up 8.1% and stamp duty up 26%.

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In relation to the Local Property Tax, compliance rates of 96% were achieved last year, while this year a rate of 94% has already been  met.

Revenue says this puts compliance "ahead of target."

The annual report also showed that an investigation into offshore assets saw a yield of more than €1bn during the year.

It dealt with 483 tax avoidance cases, 6,158 drug seizures, as well as 53.4 million cigarettes and 9,824 kgs of tobacco seized - which were valued at €25.47m and €4.22m.

Meanwhile more than €4m in VAT was saved using Real Time Risk assessment technology - and 27 criminal convictions were obtained for serious tax and duty evasion.

Chair of the Revenue Commissioners, Niall Cody, told Newstalk Lunchtime they have also had particular success through a clampdown on fuel laundering.


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