COVID-19 – Revenue Interventions has been saved
COVID-19 – Revenue Interventions
Public policy measures put in place to contain the spread of COVID-19 are resulting in significant operational disruption for taxpayers. Many now face weeks, if not months, of exceptionally challenging trading conditions.
The Revenue Commissioners acknowledges the current exceptional circumstances. They have announced that they are suspending audit and other compliance intervention activity on taxpayer’s premises until further notice. They have also set out that, where possible, they will continue to engage with businesses to finalise open interventions through MyEnquiries or by telephone.
This will put a sharp focus on the current caseload of Revenue as it would be reasonable to assume there will be a falloff in field audits/interventions for the foreseeable future. This presents a potential window of opportunity for taxpayers to consider any open audits/interventions with Revenue, some of which may be ongoing for an extended period of time, and explore with Revenue if there would be an appetite for settlement, in light of current circumstances.
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In a special report, Ronan Ferry of Deloitte Ireland explores the practical actions that tax functions can adopt as part of an overall strategy to respond to Covid-19, recover from its consequences and thrive in its wake