Levy on financial services firms

The Competition and Consumer Protection Commission (CCPC) was formed on 31 October 2014 following the amalgamation of the Competition Authority and the National Consumer Agency (NCA). On that day the Competition and Consumer Protection Act 2014 came in to force.

In previous years, the NCA imposed levies on financial services firms under the legislative powers available to it in respect of the cost of the performance of its personal finance information and education functions. The legislative powers of the CCPC now include those that were previously vested in the NCA for the purpose of imposing and collecting those levies.

The levies are imposed each year through the making of Regulations, which are published in Iris Oifigiúil as a Statutory Instrument. The CCPC has recently made the necessary Regulations for the purpose of imposing the 2017 levies (in respect of the calendar year 2017). These Regulations (as well as Regulations made in previous years) are published below for reference.

In 2017, the levy notice invoices are being issued by the CCPC itself, and the CCPC is collecting the levies (in previous years the Central Bank issued the levy notices and collected the levies on behalf of the CCPC).

Further information on the 2017 CCPC Levy is set out below for reference, including payment methods, bank account details etc.

Payment of the CCPC 2017 levies – Electronic Funds Transfer

The CCPC aims to be as efficient and cost effective as possible in the collection of its 2017 levies. Payment is to be made within the 28 days allowed and this greatly facilitates the work and minimises the cost incurred in debt collection.

Payment of the levies should be made by Electronic Funds Transfer to the bank account set up by the CCPC for the collection of these levies:

AIB Bank

Account Name:    CCPC Levy Receipts

IBAN:                       IE95 AIBK 9310 5502 6173 30

BIC/SWIFT:             AIBKIE2D

For identification purposes, firms should include at least one of the following details:

Client /firm number and/or the levy invoice number (both details are provided on each 2017 CCPC Levy invoice). If this information is not submitted, we may be unable to allocate the payment to the correct account and this may necessitate further correspondence seeking clarification and result in unnecessary delay.

Queries on the CCPC 2017 levy

Specific queries in relation to the 2017 CCPC levies should be directed to ccpclevy@ccpc.ie or by telephone to (01) 4703604.

Further information

2017 Guide to Competition and Consumer Protection Commission Levy

Payment Options form

S.I. No. 423 of 2017 Consumer Protection Act 2007 (Competition and Consumer Protection Commission) Levy Regulations 2017

S.I. No. 479 of 2016 Consumer Protection Act 2007 (Competition and Consumer Protection Commission) Levy Regulations 2016

S.I. No. 457 of 2015 Consumer Protection Act 2007 (Competition and Consumer Protection Commission) Levy Regulations 2015

 

Tags: ,

Haven't found what you're looking for?