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.