Taxes Consolidation Act 1997 section 531AAP

Valuation procedures

Section 531AAP sets out the valuation procedures that Revenue may follow in relation to the open market value of concrete products for the purposes of the defective concrete products levy.

• Where Revenue are not satisfied with the open market value stated in a return, or where no return has been made, they may estimate the value of the concrete product themselves.
• Any charge to the defective concrete products levy will then be calculated by reference to Revenue's estimated open market value.
• Revenue may determine the open market value by whatever means they consider appropriate, and may authorise a suitably qualified person to carry out the valuation.
• Where Revenue authorise a qualified person to carry out a valuation, Revenue will bear the costs of that valuation.