Value-Added Tax Consolidation Act 2010

98.

Valuation of an interest in immovable goods.

[VATA s. 10(9) (in part) and (10) (in part)]

98.—(1) In this section—

“interest”, in relation to immovable goods, shall be construed in accordance with section 93(1) ;

“open market value” has the meaning assigned to it by section 36 .

(2)( a) Where the Revenue Commissioners wish to ascertain the open market value of an interest in immovable goods, they may authorise a person to inspect the immovable goods and to report to them the open market value of that interest for the purposes of this Act, and a person having custody or possession of those goods shall permit the person so authorised to inspect the goods at such reasonable times as the Commissioners consider necessary.

( b) Where the Revenue Commissioners require a valuation to be made by a person named by them, the costs of that valuation shall be defrayed by the Commissioners.