Revenue Note for Guidance
This Chapter specifies the records to be kept by a liable person under this Part, confirms the treatment of residential zoned land tax for the purpose of calculating other taxes, confirms that residential zoned land tax is under the care and management of the Revenue Commissioners and provides for situations where the no owner is registered in respect of a relevant site..
The books and records to be kept by a liable person for the purposes of this Part are set out in this section.
(1) A liable person must keep, or have kept on their behalf, records that are required to enable a full and true return to be made.
(2) Records to be retained include but are not limited to books, accounts, documents and (2) any other data maintained manually or by electronic, photographic or other process, relating to -
(3) The records are to be kept in written form, in either Irish or English or, may, section 887(2), be kept electronically.
(4) The records must be kept for a period of 6 years from the end of each year in which a return is filed.
(5) The liquidator is responsible for keeping records in the case of a winding up of a company by a liquidator, and the directors are responsible for keeping records in the case of a company being dissolved, where no liquidator is appointed. The liquidator or directors, as the case may be, must retain records to which this section applies for 5 years from the date on which the company is wound up or dissolved.
(6) When a liable person dies, the executor or administrator of the estate will retain the records to which this section applies for 5 years from the date of death.
(7) Failure to comply with the provisions of this section may result in a penalty of €3,000.
Relevant Date: Finance Act 2021