Revenue Commissioners Annual Report 2012

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Revenue Commissioners Annual Report 2012

The Revenue Commissioners published their Annual Report 2012 on 24 April 2013.

Click here for the press release: Revenue Press Release

Among the summary information included in the press release are some statistics on convictions:

  • 50 convictions were secured for serious tax and duty evasion, up from 30 in 2011.
  • 19 custodial sentences, ranging from 15 months to 6 years (with the final year suspended in the latter case), were imposed, with a further 21 custodial sentences suspended.

In relation to Debt Management the Board's Review states: The total outstanding debt for 2012 amounted to €2,006 million, an increase of €20 million (or 1%) on 2011.

This represents 4.0% of the gross receipts of €50,176 million, showing a reduction from 4.1% of gross receipts of €48,427 million in 2011. Some €476 million of the debt available for collection was under active enforcement and a further €124 million was the subject of phased payment arrangements.

The yield from our collection enforcement programmes in 2012 was €223.9 million. Achieving a reduction in the debt available for collection is a key strategic objective for Revenue.

The continuing trend in decreasing levels of debt available for collection in the last couple of years is very encouraging and demonstrates the successful outcomes of Revenue's debt management programmes.

Revenue is fully committed to further reducing these debt levels in the coming year.

 The annual report can be reviewed on the Revenue website at: Annual Report 2012

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The material in this article is for general information purposes only and does not constitute legal or taxation advice. Specific legal and taxation advice should be sought before acting. All information and taxation rules are subject to change without notice.

No liability whatsoever is accepted by M. McLoughlin & Co. for any action taken in reliance on the information in this article

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