Taxes Consolidation Act 1997 section 817O

Penalties

Section 817O provides for civil penalties where a person fails to comply with obligations imposed by the mandatory disclosure rules or the regulations made under them.

• For "lesser" failures (e.g. failing to respond to a statutory notice or provide a client list), an initial penalty of up to €4,000 applies, with a further daily penalty of €100 for each day the failure continues after the initial penalty is imposed.
• For more serious failures (e.g. a promoter failing to disclose a scheme, or a person failing to disclose where the promoter is outside the State or claims legal professional privilege), a flexible initial penalty of up to €500 per day applies during the "initial period", with a further €500 per day thereafter.
• A penalty of up to €5,000 applies where a person fails to include the unique transaction number on a tax return.
• Revenue must apply directly to the relevant court (District, Circuit or High Court) to have penalties imposed, and the court must have regard to the promoter's fee income or the tax advantage gained by the user when determining the amount of penalty.