Taxes Consolidation Act 1997 section 531AD

Valuation procedures

Section 531AD sets out the procedures by which the Revenue Commissioners may challenge and re-estimate the market value of property for the purposes of the domicile levy.

• If Revenue are not satisfied with the market value declared in a return, they may substitute their own estimate and base the levy charge on that figure.
• Revenue may ascertain market value in whatever manner they consider appropriate.
• Revenue may authorise a suitably qualified person to inspect and value any relevant property, and the person having custody or possession of it must permit the inspection.
• Where Revenue require a valuation by an authorised person, Revenue must bear the costs of that valuation.