Taxes Consolidation Act 1997 section 1053

Penalty for fraudulently or negligently making incorrect returns, etc

Section 1053 sets out the penalty regime for incorrect or missing tax returns, statements, declarations and accounts submitted either fraudulently or negligently, applying only to contraventions occurring up to 24 December 2008.

• A penalty of €125 plus the tax shortfall applies where a person fraudulently or negligently files an incorrect return, statement, declaration or accounts, or fails to file at all.
• A lower penalty of €125 (negligence) or €315 (fraud) applies to incorrect returns, information, certificates, documents, records or declarations of the kind listed in Schedule 29, Columns 2 or 3.
• A document is treated as negligently made if an acknowledged error in it is not corrected within a reasonable period.
• This section applies only to contraventions occurring up to the passing of the Finance (No. 2) Act 2008 on 24 December 2008.