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Revenue warns of tax implications for planning payments
Revenue has warned of “potentially serious consequences” for people who do not disclose payments they have received as part of the misuse of the planning appeals system.
It said payments which influence the planning process may have tax implications, and people are obliged to include them in the appropriate tax return.
The statement follows an RTÉ Investigates programme broadcast this week, which highlighted cases where individuals had withdrawn planning appeals after receiving payments.
In the broadcast one of the individuals indicated that they had paid taxes on the money they had received.
Revenue said taxpayers had a range of opportunities to regularise their tax affairs, and said doing so would reduce the risk of heavier penalties or criminal prosecution.
It also said people who became aware of planning-related payments could report this information to them as a protected disclosure, or through its confidential tax evasion report form.
“Revenue welcomes all information about potential wrongdoing related to taxes, duties or customs controls, and treats all such reports seriously and with utmost confidentiality,” it said in its statement. “Revenue follows up rigorously on all available information that suggests there may be a risk of non-compliance with tax and duty related obligations.”
Article Source – Revenue warns of tax implications for planning payments – RTE
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