Minister not in favour of further complexities on TaxReturns
Speaking during Finance Bill Committee Stage, the Minister for Finance seemed to rule out future statistical capture of content on Form 11. Readers will be well familiar with the panels on Form 11 (particularly Panel L) which are designed to capture details of property based incentives. Replying to Opposition suggestions that the capture of such details be extended, the Minister said:
- “I have stated the continuation of certain reliefs will be the subject of ongoing review once operable. My predecessor introduced various initiatives in the Finance Acts 2003 and 2004 as a means of trying to collect further information to assist the Revenue Commissioners, the Minister, the Department and those interested in compiling statistics on the cost and take-up of tax reliefs and in an effort to prevent tax returns from becoming so complex it would be difficult for taxpayers and their agents to deal with them. I intend, on the basis of increased information as a result of the initiatives introduced by my predecessor, to make that information available. I do not, therefore, regard as necessary the amendment of the provisions beyond the initiatives already introduced.”