1073 Penalties for failure to furnish particulars required to be supplied by new companies

(1) Every company, within 30 days of beginning its trade, profession or business, must deliver a written statement to the Revenue Commissioners containing certain particulars specified in section 882. Where a company fails to deliver any such statement to the inspector, the company is liable to a penalty of €4,000 and a further penalty of €60 for each day that the failure continues after judgment has been obtained. In addition, the secretary of the company is liable to a separate penalty of €3,000.

(2) Where a statement required under section 882 is outstanding for at least 3 months, the company secretary will also be liable to pay any penalty under this section on the company which remains unpaid. The secretary will be entitled to recover any such amount from the company.

Relevant Date: Finance Act 2021