Revenue’s New Code of Practice for Compliance Interventions

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As of September 2, 2024, The Revenue eBrief No. 233/24 “Failure to Co-Operate fully with a Revenue Compliance Intervention” is now obsolete. This manual has been superseded by the Code of Practice for Revenue Compliance Interventions, consolidating all relevant guidelines into a single authoritative document.

This development marks a streamlined approach by Revenue to ensure clarity and consistency in compliance procedures. The Code of Practice sets comprehensive guidelines that businesses must adhere to during Revenue interventions. It provides a structured framework detailing the expectations and obligations for both Revenue officials and businesses involved in compliance checks.

Key Highlights of the Code of Practice:

  • Clear Standards: The Code establishes clear standards for communication, cooperation, and procedural conduct during compliance interventions. This clarity aims to reduce ambiguity and ensure fair treatment of taxpayers.
  • Defined Procedures: It outlines step-by-step procedures that Revenue officials will follow when conducting interventions. Businesses can expect a more structured and predictable process, enhancing transparency and understanding.
  • Mutual Responsibilities: Both Revenue officials and taxpayers have specified responsibilities under the Code. This includes providing accurate information, facilitating access to relevant records, and maintaining open communication throughout the intervention process.
  • Compliance Expectations: By consolidating all compliance-related guidelines into one document, the Code simplifies the compliance landscape for businesses. It ensures that all relevant information pertaining to cooperation expectations is easily accessible and up to date.

Implications for Businesses:

For businesses, understanding and complying with the Code of Practice is crucial. Non-compliance or failure to fully cooperate with Revenue interventions can lead to penalties or additional scrutiny. Therefore, staying informed about these changes and integrating them into internal compliance practices is essential.

This update from Revenue signifies an ongoing move towards more compliance practices. By replacing outdated manuals with a comprehensive Code of Practice, businesses are encouraged to maintain a proactive approach to compliance.

How Ecovis DCA Can Help:

At Ecovis DCA, we understand the importance of staying ahead in regulatory matters. Our team of experts can assist businesses in navigating these changes effectively. We offer tailored advisory services to ensure that your business meets its compliance obligations while minimizing risks.

For further guidance on how these changes affect your business or any queries on business and financial matters, contact Ecovis DCA today.