Capital Acquisitions Tax Consolidation Act 2003 (Number 1 of 2003)
This section has been deleted.
Deleted by F(No.2)A08 sched5(part4)(a). The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after 24 December 2008.
[4]>
25 Penalty.
[FA 1986 s108]
[1]>
Any person who contravenes or fails to comply with any requirement under paragraph (e) of section 21 is liable to a penalty of—
(a) €1,265, or
(b) twice the amount of tax payable in respect of the taxable inheritance to which the return relates,
whichever is the lesser.
<[1]
[1]>
(1) Any person who contravenes or fails to comply with any requirement under [2]>section 21(e)<[2][2]>section 46(2)<[2] is liable to a penalty of—
(a) €1,265, or
(b) twice the amount of tax payable in respect of the taxable inheritance to which the return relates,
whichever is the lesser.
(2) Where a person fails to comply with a requirement to deliver a return under [3]>section 21(e)<[3][3]>section 46(2)<[3], by reason of fraud or neglect by that person, that person shall be liable to a penalty of—
(a) €1,265, and
(b) the amount, or in the case of fraud twice the amount, of the difference specified in subsection (3).
(3) The difference referred to in subsection (2)(b) is the difference between—
(a) the amount of tax paid by that person in respect of the taxable inheritance to which the return relates, and
(b) the amount of tax which would have been payable if the return had been delivered by that person and the return had been correct.
<[1]
<[4]
[1]
Substituted by FA03 s146(1)(a). This section shall come into effect on such day or days as the Minister for Finance may by order or orders, either generally or with reference to any particular purpose or provision, appoint and different days may be so appointed for different purposes or different provisions. With effect from 1 October 2003 per SI 466 of 2003.
[4]
Deleted by F(No.2)A08 sched5(part4)(a). The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after 24 December 2008.