Oireachtas Joint and Select Committees
Thursday, 20 February 2014
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9 - Office of the Revenue Commissioners
Chapter 23 - Revenue Collection
Chapter 24 - Management of Revenue Debt
Chapter 25 - Taxpayer Compliance
Chapter 26 - Corporation Tax Losses
Chapter 27 - Tax Audit Settlements
11:20 am
Ms Josephine Feehily:
I am sorry, Deputy; I should have said technical adjustments will never incur penalties. I was putting the two together.
There is also provision in the code of practice for innocent errors. There are all sorts of reasons penalties do not arise, but companies with self-review mechanisms are much quicker to make disclosures.