Jack Wall (Kildare South, Labour)
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Question 145: To ask the Minister for Finance the reason a company (details supplied) must supply audited accounts to the Revenue Commissioners in view of the fact that the company has charitable status and are a community based group whose constitution states that it is a non-profit making organisation and the workings of the group are solely to do with improvement of facilities in the area of their community; his views on a change in legislation to assist such groups; and if he will make a statement on the matter. [40861/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As I stated in my reply to the Deputy's question of the 16th of November last, the Revenue Commissioners advise me that they have not sought audited accounts from this charity. I am further advised that the Revenue Commissioners have detailed procedures in place towards ensuring that bodies which have been granted charitable tax exemption are complying with the terms of their exemption and applying their funds for charitable purposes only. Under these procedures, all tax exempt charities are required to maintain proper books of accounts and audited accounts are required where the income of the charity exceeds €100,000 per annum.

I am satisfied that the legislation covering charitable tax exemption is appropriate and I have no plans to make any changes in this area. However, as with all tax exemptions and reliefs, charitable tax exemption is carefully monitored on an ongoing basis.

Full details relating to the application and monitoring procedures for charities are set out in information booklet CHY1, "Applying for Relief from Tax on the Income and Property of Charities", which can be found on the Revenue website at www.revenue.ie.