529G Assessment by Revenue officer

Summary

A Revenue officer may raise an assessment or amended assessment on a qualifying company. An assessment or amended assessment may be appealed by the qualifying company.

Detail

(1) This section provides that where a Revenue officer has reason to believe that a qualifying company has not declared the correct liability for a period, the officer may make an assessment on the qualifying company covering one return period or a number of consecutive periods.

(2) The tax specified on the assessment shall be due and payable by the qualifying company.

(3) The Revenue officer may amend an assessment and may issue a notice or amended notice by electronic means. The provisions of Chapter 5 of Part 41A apply to assessments made under this section.

(4) A qualifying company aggrieved by an assessment has a right of appeal subject to making a return or returns for the period assessed and paying the tax declared and interest due.

Relevant Date: Finance Act 2021