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—
(i) [1]>£500<[1][1]>€630<[1] or, in the case of fraud, [2]>£1,000<[2][2]>€1,265<[2], and
(ii) the amount or, in the case of fraud, twice the amount of the difference specified in subsection (2), and
the secretary of the company shall be liable to a separate penalty of [3]>£100<[3][3]>€125<[3] or, in the case of fraud, [4]>£200<[4][4]>€250<[4].
(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.
[5]>
(2A) Where any company fails to comply with a requirement to deliver a return of a kind referred to in section 884, by reason of fraud or neglect by that company, that company shall be liable to a penalty of—
(a) €630 in the case of neglect or €1,265 in the case of fraud, and
(b)(i) the amount in the case of neglect, or
(ii) twice the amount in the case of fraud,
of the difference specified in subsection (2B).
(2B) The difference referred to in subsection (2A)(b) is the difference between—
(a) the amount of corporation tax paid by the company for the accounting period or accounting periods comprising the period to which the return relates, and
(b) the amount of corporation tax which would have been payable for those periods if the return had been delivered by the company and the return had been correct.
<[5]
(3) Subsection (3) of section 1053 shall apply for the purposes of this section as it applies for the purposes of section 1053.
[6]>
(4) This section shall not apply in respect of any acts or omissions arising after the passing of the Finance (No.2) Act 2008.
<[6]
[6]
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.