Section 991 Interest

Source

Taxes Consolidation Act 1997 section 991.

(1) Where an amount of tax which an employer is liable under this Chapter and any regulations under this Chapter to pay to the Revenue Commissioners is not so paid, simple interest on the amount shall be paid by the employer to the Revenue Commissioners, and such interest shall be calculated from the due date for the payment of the amount until payment—

(a) for any day or part of a day before 1 August 1978 during which the amount remains unpaid, at a rate of 0.0492 per cent,

(b) for any day or part of a day on or after 1 August 1978 and before 1 April 1998 during which the amount remains unpaid, at a rate of 0.0410 per cent,

(c) for any day or part of a day on or after 1 April 1998 and before 1 July 2009 during which the amount remains unpaid, at a rate of 0.0322 per cent, and

(d) for any day or part of a day on or after 1 July 2009 during which the amount remains unpaid, at a rate of 0.0274 per cent.

(1A-2)

Amendments

Finance Act 2017 Schedule 1, 4(m(ii)).