Revenue Note for Guidance
This Chapter deals with corporation tax penalties for failure to make certain returns, to furnish particulars required to be supplied by new companies, to give notice of liability to corporation tax and to furnish certain information, and for the furnishing of incorrect information and for fraudulently or negligently making incorrect returns, etc.
(1)(a) & (b) Where a company fails to deliver a return following receipt of a notice pursuant to section 884 (returns of profits), the company is liable to a penalty of €2,000 and a further penalty of €60 for each day that the failure continues after a judgment has been obtained. In addition, the secretary of the company is liable to a separate penalty of €1,000.
(2) The company’s penalty of €2,000 and the secretary’s penalty of €1,000 is increased to €4,000 and €2,000, respectively, where the failure continues after the expiration of one year commencing on the day the notice was served.
(2A) Where a company fails to file a return and the penalty to which the company is liable for such failure has not been paid within 3 months after the return filing date, the company secretary will be liable to pay any amount of the company’s penalty which has not been paid. This is in addition to any other penalty to which the secretary may be liable under this section in respect of the failure. The secretary will be entitled to recover from the company any amount paid by the secretary in respect of the penalty on the company.
(3) The delivery of a return is, for the purposes of this section, deemed to include a requirement —
Relevant Date: Finance Act 2021