Taxes Consolidation Act 1997 section 653AJ

Obligation to keep certain records

Section 653AJ sets out the record-keeping obligations of a liable person for the purposes of residential zoned land tax, including the types of records to be maintained, the format in which they must be kept, and the retention periods that apply.

• A liable person must keep full and accurate records to support RZLT returns, including records relating to planning permissions, site valuations, exemption or deferral claims, site transactions, and evidence of title.
• Records may be kept in written form (in Irish or English) or in electronic format, and must be retained for six years from the end of the year in which the relevant return is filed.
• Where a liable person is a company that is wound up or dissolved, the liquidator or last directors must retain records for five years from the date of winding up or dissolution; where the liable person dies, the executor or administrator must retain records for five years from the date of death.
• A penalty of €3,000 applies for failure to comply with the record-keeping requirements.