THE SHADOW ECONOMY
The Revenue is targeting teachers who give grinds as part of an investigation into the so-called ‘shadow economy’, according to The Sunday Business Post.
Principals in some Dublin schools received letters from the Revenue last week asking them to remind teachers any additional income from delivering grinds was subject to tax.
“In our experience, one of the biggest risks is the suppression of sales and under-declaration of income and profits,” a Revenue spokesman said, confirming the targeting of cash businesses.
Revenue has also begun collaborating with other Government agencies in a bid to identify tax evaders and has targeted certain sectors in regional areas. Jewellers, pawnbrokers, cash-for-gold stores, equipment hire and private rental accommodation are all in the firing line.
Contact Anthony Casey of Noone Casey if you are in the firing line!