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

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 :

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.