Dáil Éireann Debate, Tuesday - 20 November 2012
232. Deputy Brendan Griffin asked the Minister for Finance the number of years accounts details that the Revenue Commissioners may demand from persons in the course of their investigations; the period that they can go back; and if he will make a statement on the matter. [51562/12]
View answerI am informed by the Revenue Commissioners that, in accordance with the provisions of Section 886 of the Taxes Consolidation Act 1997, taxpayers must keep their records (which includes accounts) for a period of 6 years after the completion of the transactions to which the records relate or, in the case of a person who fails to file a timely tax return, until the expiry of a period of 6 years from the end of the year of assessment in which such return is filed.
In accordance with Section 956 of the Taxes Consolidation Act 1997, Revenue may ordinarily make enquiries in relation to a taxpayer's tax affairs at any time in the 4 years after the end of a year of assessment in which the taxpayer has filed a tax return. However, in cases where they have reasonable grounds for believing that a taxpayer has completed a tax return in a fraudulent or negligent manner, Revenue are not limited to this 4 year period and may, subject to a taxpayer's right of appeal to the Appeal Commissioners, investigate suspected fraud or neglect for any period.
