Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

Following a review, Revenue recently revised the threshold for high net worth individuals downwards from €50 million to €20 million. The review was conducted in the first quarter of 2019 and the report was published in June. The rationale for setting the threshold at €20 million included facilitating the close alignment of Revenue's resources with risk, the engagement between Revenue and the Comptroller and Auditor General on chapter 18 of the 2018 report on the management of high net wealth individuals' tax liabilities, and the discussion that took place during the Revenue chairman's attendance at a meeting of the Committee of Public Accounts in November 2018. The adjustment of Revenue's organisational structure is an ongoing process influenced by a wide range of factors both internal and external. Revenue is proactively and continually evolving its structure to ensure it can optimally manage the alignment of its resources with risk and deliver a high-quality service to support taxpayer compliance.

Revenue is independent in its administration of the tax and duty system, and the threshold within which cases are managed by the different divisions is an operational matter for Revenue.As part of its ongoing management of the case, I understand Revenue will continue to prepare reports and evolve its case base. In these circumstances, a review is not appropriate at this time. It would not be a productive use of resources coming so soon after the previous review. It does not have relevance to the Finance Bill and I cannot accept the recommendation.