Dáil Éireann Debate, Tuesday - 27 July 2021
301. Deputy Róisín Shortall asked the Minister for Finance further to Parliamentary Question No. 82 of 30 June 2021, the percentage of notice of opinion and notice of assessments issued under the general anti-avoidance rules which result in an additional tax yield; and if he will make a statement on the matter. [39253/21]
View answerI am advised by Revenue that, of the 517 Notices of Opinion issued by Revenue under section 811 of the Taxes Consolidation Act 1997, 72 are still under enquiry. Of the 445 Notices finalised, 12.4% (55 Notices), resulted in a settlement with Revenue which included additional tax.
I understand that of the 445 notices finalised, 85.2% (379 notices), were withdrawn resulting in a nil yield following the Supreme Court’s decision in the Hans Droog case. As advised to the Deputy in Parliamentary Question No. 82 of 30 June 2021, it was successfully argued by the appellant in that case that time limits set out in legislation relating to the self-assessment system applied also to the general anti-avoidance legislation.
Also as previously advised to the Deputy, I understand from Revenue that no assessments have issued to-date under section 811C of the Taxes Consolidation Act 1997 which applies to tax avoidance transactions commenced after 23 October 2014 and requires the issue by Revenue of a Notice of Assessment instead of a Notice of Opinion. I understand it has been possible for Revenue to challenge tax avoidance transactions identified that took place after 23 October 2014 using specific legislative provisions, therefore to-date it has not been necessary for Revenue to issue assessments under section 811C.
