Taxes Consolidation Act 1997 section 1075

Penalties for failure to furnish certain information and for incorrect information

Section 1075 imposes penalties on persons and companies that fail to provide, or provide incorrect, information or particulars required under certain provisions relating to company ownership changes, group relief, and close companies.

• A person who fails to comply with a notice requiring information faces a penalty of €3,000, with a further €10 per day if the failure continues after court judgment.
• A person who furnishes incorrect information or particulars under the relevant provisions is liable to a penalty of €3,000.
• Where the defaulting person is a company, penalties increase to €4,000 (with €60 per day for continuing failures), and the company secretary faces a separate €3,000 penalty.
• An innocent error in the information furnished must be corrected without unreasonable delay; otherwise it is treated as having been made negligently, deliberately, or carelessly.