Batt O'Keeffe
Question:76 Mr. B. O'Keeffe asked the Minister for Finance the plans, if any, he has to empower the Revenue Commissioners to appoint a corporate recovery specialist. [14923/95]
Written Answers. - Corporate Recovery Specialist Appointment.
I wish to advise the Deputy that there are no plans in this regard. In a situation where a company has arrears of tax and is seeking an (instalment) arrangement in order to pay off those arrears the Revenue Commissioners have to form an opinion as to the viability of the company. This view would obviously take account of any restructuring plans that the company may have. However the primary obligation of the Revenue Commissioners in such a situation is to ensure the collection of the taxes which are legally due. A potential conflict of interest would arise if the Revenue role was extended to advising companies as to possible restructuring, investment requirements etc. in order to ensure the future of the company. In practice the corporate recovery advisory role more appropriately falls within the ambit of other State agencies such as the Department of Enterprise and Employment or Forbairt or Forfás. Revenue's standing advice to companies experiencing difficulties is to approach Revenue at an early stage in relation to their tax liabilities.