Value-Added Tax Consolidation Act 2010


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.