Oireachtas Joint and Select Committees
Thursday, 9 May 2013
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 11: VAT on Intra-Community Trade
10:30 am
Seán Fleming (Laois-Offaly, Fianna Fail)
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There is some comfort in that. Page 159 of the report refers to under-reporting, in particular by one company as mentioned earlier by the Comptroller and Auditor General. Ms Feehily said that Revenue has met with the company and has undertaken assessments, the result of which was that the under-reporting was because of changes to an IT system. I would imagine that exports to the EU by a company of the type about which we are talking would amount to hundreds of millions of euro. It is not a small operator. It must be one of the highest to have had such a noticeable effect. Can Revenue do any more? Is it satisfied, based on its assessments, with the 74% drop in the amounted recorded in that company's VIES returns during 2011?