New Rev­enue divi­sion to fo­cus on wealthy

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Sa­man­tha Mc­caugh­ren

THE Rev­enue Com­mis­sion­ers have split their large cases divi­sion (LCD) into two sep­a­rate di­vi­sions — one deal­ing with large cor­po­rates and a sep­a­rate divi­sion deal­ing with ex­tremely wealthy in­di­vid­u­als.

The tax author­ity said it was re­struc­tur­ing the LCD divi­sion, strip­ping out high­net-worth in­di­vid­u­als, in line with eco­nomic changes.

The LCD pro­vides ma­jor tax­pay­ers with opin­ions on their tax plan­ning, which is of­ten ex­tremely so­phis­ti­cated.

Rev­enue is re­struc­tur­ing some op­er­a­tions due to in­ter­nal is­sues, such as the im­pact of a large num­ber of re­tire­ments.

It is also re­act­ing to ex­ter­nal fac­tors such as the in­ter­na­tional tax agenda, state aid is­sues, Brexit, the chal­lenges pre­sented by a re­cov­er­ing econ­omy and emerg­ing trends in how busi­nesses op­er­ate and ad­vances in tech­nol­ogy.

“Our or­gan­i­sa­tion is ag­ile and we con­tin­u­ally evolve our struc­ture to match chal­lenges in the eco­nomic en­vi­ron­ment, at both na­tional and global lev­els,” said a spokes­woman. “In all seg­ments of the tax­payer pop­u­la­tion, the non-com­pli­ance be­hav­iour of the tax­payer de­ter­mines the na­ture, ex­tent and the con­se­quences of Rev­enue in­ter­ven­tions.

“The re­align­ment of our large cases divi­sion is one el­e­ment of this new struc­ture which will fa­cil­i­tate close align­ment of our re­sources with risk,” she added.

Rev­enue in­ter­ven­tion, such as au­dits, yielded al­most €500m in 2017.

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