529K Record keeping and inspection of records

Summary

A qualifying company is obliged to keep full records relating to relevant payments made and to make these available for inspection, on request to an authorised Revenue officer.

Detail

(1) A qualifying company is obliged to keep and maintain a record of all relevant payments made and this includes the name address and tax reference of the specified person or artiste in receipt of the payment, the amount of the payment, the date of the payment and the amount of tax deducted from the payment.

(2) The obligations contained in subsections (3) and (4) of section 886 apply to records created or maintained for the purposes of this Chapter.

(3) Any person, or employee of a person, who has made or received a relevant payment shall produce, on request, to a Revenue officer for inspection all documents and records relating to relevant payments. A revenue officer, who exercises powers or performs duties under this section, shall be authorised in writing by the Revenue Commissioners to do so and the officer shall on request produce evidence of the officer’s authorisation.

Relevant Date: Finance Act 2021