Revenue News: June 2011

Monday, June 20, 2011

by Nick Ryan

Revenue has released e-briefs covering the announcement of the new reduced rate of 9% together with briefs on the changes to RCT and the application of VAT for charitable donations via SMS. These can be found on the Revenue web site.
There are strong rumours appearing that Revenue are initiating investigations into the Holiday Cottage schemed undertaken over the last 10 to 12 years. Feelings here are that there is VAT to be had from both the investors and the management companies. See my article in Issue 4
The position regarding Revenue audits is still mixed; some have noted an increase while others still note a high level of dormancy within Revenue districts. Desk audits still appear to be the preferred option though the selection process remains unclear.

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