Taxes Consolidation Act 1997 section 1072

Penalties for fraudulently or negligently making incorrect returns, etc.

Section 1072 sets out the penalties that apply where a company fraudulently or negligently makes incorrect returns, statements, declarations or accounts in connection with corporation tax, or fails to deliver a required return.

• A company that negligently delivers incorrect returns or accounts faces a penalty of €630 plus the tax underpaid; fraud doubles the underpayment element and increases the fixed penalty to €1,265.
• The company secretary is separately liable to a penalty of €125 for negligence or €250 for fraud.
• Similar penalties apply where a company fraudulently or negligently fails to deliver a return required under section 884.
• This section applies only to contraventions occurring up to 24 December 2008 (the passing of the Finance (No. 2) Act 2008).