Dáil Éireann debate -
Wednesday, 19 Feb 1992

Vol. 415 No. 9

Written Answers. - Auctioneers Income Tax Returns.

Phil Hogan

Question:

125 Mr. Hogan asked the Minister for Finance if his attention has been drawn to the change in procedure by the Revenue Commissioners in respect of the treatment of professional auctioneers and particularly the information they are required to submit regarding form 8/3 in respect of section 94 (b) of the Income Tax Act, 1967, as amended; and if he will make a statement on the matter.

Minister for Finance (Mr. B. Ahern)

I have been advised by the Revenue Commissioners that there has been no change in the procedure being followed by the Revenue Commissioners with regard to auctioneers.

In common with all persons who arrange property lettings, auctioneers are required on request to supply certain particulars of such arrangements to the Revenue Commissioners as provided under Section 94, Income Tax Act, 1967. However, since the introduction of self-assessment there has been a greater need for third party information so as to authenticate the returns being made. Accordingly the Revenue Commissioners are requesting this statutory information on a more regular basis. This year, in response to representations from the auctioneering profession, the Revenue Commissioners have publicised the requirement to make such returns.