Revenue Note for Guidance
The Revenue Commissioners have the power to mitigate certain penalties and to stay or compound proceedings for the recovery of any fine or penalty imposed under the Acts, subject to certain conditions.
(1) The Revenue Commissioners have, for the purposes of the Acts, the power to-
In addition, they may further mitigate any penalty after judgment has been obtained.
(2)(a) No penalty may be mitigated or further mitigated by more than 50 per cent of the penalty.
(2)(b) No mitigation is allowed of penalties or fines applicable under the Waiver of Certain Tax, Interest and Penalties Act, 1993, (the amnesty legislation) where an individual —
(3) Moneys arising from fines, penalties and forfeitures and any costs, charges and expenses relating to them must be accounted for and paid to the Revenue Commissioners or as they direct.
(4) For the purposes of the section, “the Acts” has the same meaning as in section 1077A(1), i.e. the legislation governing all taxes and duties administered by the Revenue Commissioners.
Following the amendments introduced in Finance (No 2) Act 2013, section 1065 is now the main provision governing mitigation of all penalties that may be imposed under the Acts.
Accordingly, the following provisions are repealed – being no longer necessary and effectively incorporated into section 1065:
In addition, the following provisions are amended:
Relevant Date: Finance Act 2019