Taxes Consolidation Act, 1997 (Number 39 of 1997)
1072Penalties for fraudulently or negligently making incorrect returns, etc.
[CTA76 s143(9), (10) and (11)]
(1) Where a company fraudulently or negligently—
(a) delivers an incorrect return under section 884,
(b) makes any incorrect return, statement or declaration in connection with any claim for any allowance, deduction or relief in respect of corporation tax, or
(c) submits to an inspector, the Revenue Commissioners or the Appeal Commissioners any incorrect accounts in connection with the ascertainment of the company’s liability to corporation tax,
the company shall be liable to a penalty of—
(ii) the amount or, in the case of fraud, twice the amount of the difference specified in subsection (2), and
(2) The difference referred to in subsection (1) shall be the difference between—
(a) the amount of corporation tax payable by the company for the accounting period or accounting periods comprising the period to which the return, statement, declaration or accounts relate, and
(b) the amount which would have been the amount so payable if the return, statement, declaration or accounts had been correct.
Inserted by FA02 s131.
Inserted by F(No.2)A08 sched5(part2)(1)(am). The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after 24 December 2008.