Taxes Consolidation Act 1997 section 653BE

Interest on overdue tax

Section 653BE provides for interest to be charged on unpaid vacant homes tax from the date the tax becomes due until it is paid, and sets out the rules for calculating and recovering that interest.

• Interest runs from the due date until the date of payment, calculated on a daily basis at a rate of 0.0219% per day or part of a day
• Interest is not deductible for tax purposes and is payable gross (without deduction of income tax) to Revenue as a debt due to the Minister for Finance
• All statutory provisions for the recovery of unpaid tax apply equally to the recovery of unpaid interest, which is treated as if it were part of the tax itself
• In recovery proceedings, a certificate signed by a Revenue officer stating the amount of interest due is accepted as evidence of that liability unless the contrary is proved