asked the Minister for Finance if it is necessary for farmers to produce accounts certified by an accountant when being assessed for income tax purposes; and if he will make a statement on the matter.
Written Answers. - Farmers' Accounts.
492.
The Revenue Commissioners have advised me that there is no obligation on farmers to have their accounts for tax purposes prepared and certified by accountants. The farmer himself, or any other person employed by him, may prepare the accounts but it is desirable that the person doing so would have a degree of competence in the area. In this connection it may be mentioned that a simplified form of accounts for small enterprise farmers was introduced in 1980.
The type of farming carried on, the extent of the farming activity involved, the amount of capital employed, etc., would suggest to the inspector of taxes the minimum acceptable standard of accounts for any particular case. If the accounts did not reach that minimum standard, the inspector would have no alternative but to reject them. If, on the other hand, satisfactory accounts were prepared and submitted by farmers there would normally be no problem in accepting such accounts.