Taxes Consolidation Act 1997 section 529K

Record keeping and inspection of records

Section 529K requires qualifying film production companies to keep detailed records of all relevant payments made to specified persons and artistes, and to make those records available for inspection by authorised Revenue officers.

• A qualifying company must maintain a record of every relevant payment, including the name, address and tax reference of the recipient, the date and amount of the payment, and the amount of tax deducted.
• The record-keeping and retention obligations under section 886(3) and (4) apply to all records created or maintained for the purposes of this Chapter, whether held manually or electronically.
• Any person, or employee of a person, who has made or received a relevant payment must produce all related documents and records for inspection when requested by a Revenue officer.
• A Revenue officer exercising powers under this section must be authorised in writing by the Revenue Commissioners and must produce evidence of that authorisation on request.