What to do if the Revenue selects your business for audit

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What to do if the Irish Revenue selects your business for audit → finfacts.ie/irishfinancenews … 0172.shtml

Dealing with a Revenue audit is stressful and can be costly for many businesses. If the Irish Revenue has selected your business for an audit, don’t panic, decide if you want to deal with the audit yourself and use the time available to get organised.

Most audits and investigations are targeted at cases where Revenue believes there is a risk of underpayment of tax. On average Revenue carries out over 13,000 audits each year and of these less than 500 are selected at random. The success in the take up of on-line filing via Revenue’s Online System (ROS) and the development of sophisticated risk profiling software has enabled Revenue to better target cases for review and to widen the scope of its audit activity. Coupled with the screening of cases at district level, Revenue can identify and rank potential risks in real time and take whatever action is deemed necessary.

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