Revenue Business Division update – Revenue tightening their watch on specific sectors as we move into 2022

by | General

John, Co Founder of Professional Tax Adviser’s recently attended the Revenue Business Division’s latest meeting, in his role as Branch Representative for the Institute of Taxation.

As part of the meeting, Revenue gave an insight into the sectors they will be looking at, in terms of compliance, over the coming months.

Here were some of the highlights:

  • The Shadow Economy with the emphasis on Bogus Self Employment (in particular the Personal Care sector – hairdressers, beauty parlours etc.)
  • The Construction sector in terms of Bogus Self Employment.
  • Live Animal Traders (other than farmers), eg puppy farms. This will be in terms of general compliance i.e returns are being filed and the efficacy of the returns.
  • Social Media will be coming under the spotlight, with emphasis on “Influencers” –  confirming they are registered for Income Tax/Vat and returns are being filed.
  • Share options
  1.  General compliance: Confirming that employers are filing the relevant returns with Revenue
  2.  To check that employees who have exercised/disposed of shares have registered for Income Tax and    have filed an RTSO1 (Relevant Tax on Share Options) – and paid the tax thereon.

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