959AA Chargeable persons: time limit on assessment made or amended by Revenue officer

Summary

This section provides for a 4-year time limit on the making and amending of assessments on chargeable persons. This limit is linked to the chargeable period in which the return is delivered. Certain exceptions are provided for in the section (for example, to give effect to a determination of an appeal). There are also other exclusions to the 4- year time limit in sections 959AC and 959AD. The section provides that nothing in the section affects the operation of sections 804(3), 811, 811A, 811C, 811D or 1048

Details

Revenue cannot make or amend an assessment on a chargeable person who delivered a full and true return later than 4 years after the end of the chargeable period in which the return is filed, meaning that no additional tax can be payable and no tax can be repayable after this time.

At any time, Revenue can amend an assessment:

• where the return was not a full and true disclosure
• to give effect to the determination of an appeal
• to reflect an event which happened after the return is filed
• to correct a calculation error in the assessment or
• to correct any mistake of fact which was disclosed by the taxpayer and not correctly reflected in the assessment

At any time, a Revenue officer may make or amend an assessment for a chargeable period to give effect to a bilateral Mutual Agreement Procedures (MAP) reached between Revenue and a competent authority in another jurisdiction with which Ireland has a Double Taxation Agreement (DTA) and any tax due or repayable (notwithstanding the time limits in section 865) shall be paid or repaid.

Nothing in this section affects the operation of section 804 (administration of an estate) 811, 811A, 811C, 811D (the general Anti-Avoidance provisions) or 1048 (assessments on executers and administrators).

Relevant Date: Finance Act 2021