Late filing penalty on income tax returns and the local property tax

May 28

There’s a small section in the local property tax legislation which is very relevant to the self employed.

For example a single person with self employed income of €50,000 would pay approximately €16,781 in income tax. If your local property tax return isnt filed your income tax return can be hit with a late filing penalty. This penalty starts at 5% and after two months goes up to 10%.

So in the case above the late filing penalty could be €1,678 + interest on the local property tax + penalties.

This penalty appears to be capped at the amount of the local property tax due:
Full details :
http://www.irishstatutebook.ie/2012/en/act/pub/0052/print.html#sec38

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