Overstatement of certain unallocated tax deposits

Unallocated tax deposits (UTD), recorded in the revenue account as a year-end liability, include receipts which cannot at the year-end be allocated to either a taxhead or taxpayer record.
The audit of the 2021 revenue account found that the taxhead receipts for 2021 were understated by an estimated €32.5 million as audit tax settlements made by taxpayers were incorrectly included in the year-end UTD balance rather than being allocated to the relevant taxhead(s). The UTD year-end liability balance was overstated by the same amount.