Taxes Consolidation Act, 1997 (Number 39 of 1997)
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904E Power of inspection: claims by authorised insurers.
(1) In this section—
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“authorised insurer” has the same meaning as in section 470;
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“authorised insurer”—
(a) subject to paragraph (b), has the same meaning as in section 470,
(b) in relation to a claim made under section 470B(6)(b)(ii), has the same meaning as in section 470B;
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“authorised officer” means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this section.
(2) An authorised officer may at all reasonable times enter any premises or place of business of an authorised insurer for the purpose of auditing for a year of assessment claims made by the authorised insurer under section 470(3)(b)(ii) [6]>or 470B(6)(b)(ii)<[6].
(3) Without prejudice to the generality of subsection (2), the authorised officer may—
(a) examine the procedures put in place by the authorised insurer in relation to the vouching of claims referred to in that subsection, and
(b) check a sample of the cases in respect of which such a claim has been made to determine whether the procedures referred to in paragraph (a) have been observed in practice and whether they are adequate.
(4) An authorised officer may require an authorised insurer or an employee of the authorised insurer to furnish information, explanations and particulars and to give all assistance which the authorised officer reasonably requires for the purposes of his or her audit and examination under subsections (2) and (3).
(5) An authorised officer when exercising or performing his or her powers or duties under this section shall, on request, produce his or her authorisation for the purposes of this section.
(6) An employee of an authorised insurer who fails to comply with the requirements of the authorised officer in the exercise or performance of the authorised officer’s powers or duties under this section shall be liable to a penalty of [2]>£1,000<[2][2]>€1,265<[2].
(7) An authorised insurer which fails to comply with the requirements of the authorised officer in the exercise or performance of the authorised officer’s powers or duties under this section shall be liable to a penalty of [3]>£15,000<[3][3]>€19,045<[3] and, if that failure continues, a further penalty of [4]>£2,000<[4][4]>€2,535<[4] for each day on which the failure continues.
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Inserted by FA01 s22(1). Applies as respects the year of assessment 2001 and subsequent years of assessment.
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Substituted by FA01 s22(2)(a). Applies as respects the year of assessment 2002 and subsequent years of assessment.
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Substituted by FA01 s22(2)(b)(i). Applies as respects the year of assessment 2002 and subsequent years of assessment.
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Substituted by FA01 s22(2)(b)(ii). Applies as respects the year of assessment 2002 and subsequent years of assessment.