911 Valuation of assets: power to inspect

Summary:

An authorised person may inspect, at all reasonable times, any asset to determine its value for the purposes of any tax or duty. The authorised person is not to be obstructed in these actions. Evidence of authorisation must be produced if requested by the person having possession or custody of an asset – or by the occupier in the case of property. A person who obstructs an authorised person in the inspection of an asset is guilty of an offence under Section 1078(2)(j).

Details

Definitions

(1) “the Acts” have the same meaning as in Section 1078. This is to ensure that the power to inspect any asset applies to all Revenue legislation.

“authorised person” means an inspector of taxes or Revenue officer or a person suitably qualified to value an asset who is authorised for that purpose by the Revenue Commissioners.

“value” means “market value”, “current use value” or any other form of “value” that may be mentioned in any of the Acts

(2) Where the Revenue Commissioners require any asset to be valued they may authorise an authorised person to inspect the asset (and where the asset is land, to enter on the land) for the purposes of ascertaining its value and reporting it to the Revenue Commissioners. The person having custody or possession of the asset (or the occupier in the case of premises) must permit the authorised person to inspect /enter the asset at such reasonable times as the Revenue Commissioner necessary. The authorised person must produce authorisation if requested.

(3) An authorised person may not enter a persons private residence or any part of a property that is occupied wholly and exclusively as a private residence without either the consent of the occupier or a warrant issued by a Judge of the District Court.

A Judge may issue a warrant if satisfied by reference to information given under oath that it is proper to do so for the purposes of the Acts.

(4) The Revenue Commissioners will meet the costs incurred in obtaining any valuation.

Relevant Date: Finance Act 2021