653BA. Retention of records

(1) The chargeable person shall retain, or cause to be retained on behalf of the chargeable person, such records as are required to enable a full and true return to be made for the purposes of this Part.

(2) Without prejudice to the generality of subsection (1), the records referred to in that subsection may include, but are not limited to, books, accounts, documents and any other data relating to—

(a) the use of a residential property in a chargeable period,

(b) the application, as the case may be, of paragraphs (a), (b) or (c) of section 653AO(1), and

(c) any claim to exemption under section 653BC.

(3) Records required to be retained by virtue of this section shall be retained in an official language of the State—

(a) in written form, or

(b) subject to section 887(2), by means of any electronic, photographic or other process.

(4) Notwithstanding any other law, records to be retained under this section shall be retained by the person required to retain the records for the longer of the following periods:

(a) where enquiries into a return are made by an officer of the Revenue Commissioners, the period ending on the day on which those enquiries are treated as completed by the officer;

(b) the period of 6 years commencing from the end of the year in which the chargeable period ends.

(5) For the purposes of this section, where the chargeable person is a company and the company—

(a) is wound up, the liquidator, or

(b) is dissolved without the appointment of a liquidator, the last directors, including any person occupying the position of director by whatever name called, of the company,

shall retain the records required to be retained under this section for a period of 5 years from the date from which the company is wound up or dissolved.

(6) For the purposes of this section, where a chargeable person dies, the executor or administrator of that deceased person shall retain the records required to be retained under this section for a period of 5 years from the date of death of the chargeable person.

(7) A person who fails to comply with this section in respect of the retention of any records relating to vacant homes tax shall be liable to a penalty of €3,000.