Taxes Consolidation Act 1997 section 529H

Interest on late payment of appropriate tax

Section 529H provides for the charging of interest on overdue film artiste withholding tax payable to the Collector-General.

• Where a qualifying company fails to pay film artiste withholding tax by the due date, simple interest is charged on the outstanding amount from the due date until payment.
• Interest is calculated on a daily basis (including part days) at the rate specified in section 1080 TCA 1997.
• The interest provisions in subsections (3) to (5) of section 1080 also apply to interest arising under this section.
• The effect is that overdue film artiste withholding tax is treated in the same manner as overdue income tax for interest purposes.