Taxes Consolidation Act 1997 section 907

Application to Appeal Commissioners: information from financial institutions

Section 907 empowers an authorised officer of the Revenue Commissioners to apply to the Appeal Commissioners for consent to serve a notice on a financial institution, requiring it to produce documents or furnish information relevant to a taxpayer's tax liability.

• An authorised officer may, with the prior written consent of a Revenue Commissioner, apply to the Appeal Commissioners for permission to serve a notice on a financial institution seeking books, records and information relevant to a taxpayer's liability.
• The officer must have reasonable grounds for suspecting that the taxpayer has failed, or may fail, to comply with the tax Acts, and that such failure is likely to seriously prejudice the proper assessment or collection of tax.
• If the Appeal Commissioners consent, the notice must be served within 14 days, and the financial institution has 30 days from the date of service to comply with its requirements.
• A financial institution that fails to comply with the notice is liable to a penalty of €19,045, with an additional daily penalty of €2,535 for each day the failure continues beyond the 30-day period.