Capital Acquisitions Tax Consolidation Act 2003 section 58

Penalties

Section 58 imposes penalties for failures to comply with CAT obligations, including late or non-filing of returns, obstruction of property inspections, and the deliberate or careless delivery of incorrect returns, statements, or valuations.

• A fixed penalty of €3,000 applies for failure to file a return or pay self-assessed tax on time, with a further €30 per day if the failure continues after a court judgment
• A tax-geared penalty of €3,000 plus the tax shortfall applies where a person deliberately or carelessly fails to file a return; a penalty of €6,345 plus the tax shortfall applies for filing an incorrect return or providing incorrect information
• A penalty of €3,000 applies for obstructing a property inspection or for assisting in providing an incorrect return, statement, or valuation
• Certain income tax penalty provisions of the Taxes Consolidation Act 1997 are extended to CAT, covering matters such as penalty proceedings, time limits, false evidence, and deliberate or careless errors