8 May 2013, 11:35
Vat on intra-community trade will be the focus of the Committee of Public Accounts when it meets with the Chairman of the Revenue Commissioners tomorrow, 9th May 2013.
Committee Chairman John McGuinness TD said: “VAT receipts at the end of 2012, according to the December 2012 Exchequer Statement, were €10.2 billion. Approximately 90% of VAT traditionally relates to transactions within Ireland, which would amount to approximately €9.18 billion in the case of 2012. The key issues in the Comptroller & Auditor General’s report are the risks that the system of accounting for intra-community VAT presents for the Revenue Commissioners and, in particular, the risk of lost revenue to the State; how Revenue addresses these risks and the systems it uses and how tax compliance in this area can be improved.”
This meeting will take place in Committee Room 1 at 10am tomorrow, Thursday, 9th May 2013.
Committee proceedings can be followed live at: http://www.oireachtas.ie/parliament/watchlisten/
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee of Public Accounts Membership
John McGuinness (Chairman)
Kieran O’Donnell (Vice Chairman)
Paul J Connaughton,
John Deasy,
Paschal Donohoe,
Gerald Nash,
Simon Harris,
Michael McCarthy,
Mary Lou McDonald,
Sean Fleming,
Eoghan Murphy,
Derek Nolan,
Shane Ross.