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Retention and inspection of records in relation to claims by individuals.
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25.—With effect from the passing of this Act the Principal Act is amended in Chapter 3 of Part 38 by inserting the following after section 886:
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“886A.—(1) An individual who, in relation to a year of assessment, may wish to make a claim for an allowance, deduction or relief in relation to income tax shall keep and preserve all such records as may be requisite for the purpose of enabling the individual to make a correct and complete claim.
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(2) The records which an individual is required to keep and preserve in accordance with subsection (1) shall be retained by the individual for the longer of the following periods—
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(a) where enquiries into the claim or any amendment of the claim are made by an officer of the Revenue Commissioners, the period ending on the day on which those enquiries are treated as completed by the officer, and
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(b) a period of 6 years beginning at the end of the year of assessment to which the claim relates.
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(3) Subject to subsection (4), an individual who fails to comply with subsection (1) in relation to any claim which is made for a year of assessment, shall be liable to a penalty of €1,520 and, for the purposes of recovery of a penalty under this subsection, section 1061 shall apply in the same manner as it applies for the purposes of the recovery of a penalty under any of the sections referred to in that section.
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(4) Subsection (3) shall not apply where an officer of the Revenue Commissioners is satisfied that any facts which the officer reasonably requires to be proved, and which would have been proved by the records, are proved by other documentary evidence furnished to the officer.
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(5) Subject to the provisions of section 956, an officer of the Revenue Commissioners may enquire into—
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(a) a claim made by an individual, or
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(b) any amendment made by an individual of a claim made by the individual,
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if, within 4 years from the end of the year of assessment in which the claim, or (as the case may be) any amendment of the claim, is made, the officer gives notice of his or her intention to do so to that individual.
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(6) Where an officer of the Revenue Commissioners gives notice under subsection (5) to any individual (in this subsection referred to as the ‘claimant’) of his or her intention to enquire into—
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(a) a claim made by the claimant, or
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(b) any amendment made by the claimant of such a claim,
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then the officer may at the same or any subsequent time by notice in writing require the claimant, within such time (which shall not be less than 30 days) as may be specified in the notice—
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(i) to produce to the officer such documents as are in the claimant's possession or power and as the officer may reasonably require for the purpose of determining whether and, if so, the extent to which the claim or amendment is correct, and
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(ii) to furnish the officer with such accounts or particulars as the officer may reasonably require for that purpose.
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(7) In complying with a notice under subsection (6) an individual may furnish to the officer copies of documents instead of originals, but—
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(a) the copies must be photographic or other facsimiles, and
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(b) the officer may by notice require the original to be produced for inspection.
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(8) The officer may take copies of, or make extracts from, any document produced to him or her under this section.”.
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