The following penalties apply for late payment of taxes and late submission of Income tax returns:

TYPE OF PENALTY RATE OF PENALTY % AMOUNT €
Late submission of Tax returns n/a 100
Low Estimation and payment of yearly Temporary Tax 10 n/a
Payment of CT after 31/8 of the following year 5 n/a
Payment of CT one month after the yearly tax return deadline 5 n/a
Payment of IT by self-employed persons after 31/7 of the following year 5 n/a
Payment of SDC on interest income after the due date 5 n/a
Payment of PAYE tax after the end of the following month 1 each month n/a


Additionally interest is payable for late payments at the following official rates:

AMOUNTS OUTSTANDING FROM RATE OF INTEREST %
before 1 January 2007 9
1 January 2007 to 31 December 2009 8
1 January 2010 to 31 December 2010 5.35
1 January 2011 to 31 December 2012 5
1 January 2013 to 31 December 2013 4.75
1 January 2014 to 31 December 2014 4.5
1 January 2015 to 31 December 2016 4
1 January 2017 to 31 December 2018 3.5
1 January 2019 to 31 December 2019 2
1 January 2020 onwards 1.75


Originally published 03 February 2021

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.