Oireachtas Joint and Select Committees
Thursday, 1 June 2017
Public Accounts Committee
2015 Annual Report of the Comptroller and Auditor General and Appropriations Account
Chapter 13 - Revenue's Review of Medical Consultants' Tax Affairs
Chapter 14 - Research and Development Tax Credit
Chapter 16 - Deferral of Tobacco Stamp Liability
9:00 am
Mr. Niall Cody:
The key is compliance with the payment notifications. The penalty regime in the RCT system was changed in law a couple of years ago and we only apply penalties where there have been repeat breaches. The system is absolutely all about real-time compliance and there is an onus on the principal contractor. However, we do not, in any case, impose penalties for a once-off breach. There is a huge responsibility on a principal contractor. A principal contractor is engaging subcontractors. This is not a small operator.
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