asked the Minister for Finance whether he is willing to review the P35 end-of-year assessment information sought from small businesses; and the need for such extra information gathering when the information sought is already in his Department contained in the P60 forms and the tax-deduction cards of each employee.
Written Answers. - P35 Procedure.
51.
The Revenue Commissioners have advised me that proposals to do away with the P35 procedure have been examined from time to time at the request of interested parties. Under the system of accounting for PAYE and PRSI an employer makes a declaration each month of the amount of his liability and remits that sum to the Collector General. The employer is not obliged to furnish any other details when making the monthly returns. That obligation rests on the employer only at the end of the income tax year when the employer gives an account of the total emoluments paid, the tax deducted or repaid and the PRSI deducted and contributed. That return is an essential input to enable the monthly remittances to be balanced with the liability incurred during the year. The information on individual forms P60 is an accounting as between the employees and the employer who made the deduction. They serve a different purpose.