Taxes Consolidation Act 1997 section 1071

Penalties for failure to make certain returns

Section 1071 sets out the penalties that apply where a company fails to deliver a return of profits when required to do so under section 884.

• A company that fails to comply with a notice to file a return faces a penalty of €2,000, rising to €4,000 if the failure continues for more than one year, plus €60 per day after a court judgment is obtained.
• The company secretary faces a separate penalty of €1,000, rising to €2,000 if the failure continues for more than one year.
• If the company does not pay its penalty within three months of the return filing date, the company secretary becomes personally liable to pay the unpaid amount.
• The obligation to deliver a return includes furnishing copies of accounts and making books and records available for inspection within specified periods.