Finance Act 2022
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Amendment of section 116A of Value-Added Tax Consolidation Act 2010 (penalty for deliberately or carelessly making incorrect returns, etc.) | ||
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88. Section 116A of the Value-Added Tax Consolidation Act 2010 is amended— | ||
(a) in subsection (1), in the definition of “qualifying disclosure”, by the substitution of the following subparagraph for subparagraph (ii) of paragraph (a): | ||
“(ii) full particulars of all matters occasioning any liability to tax or duty that gives rise to— | ||
(I) a penalty referred to in section 1077F(6) of the Taxes Consolidation Act 1997 , | ||
(II) a penalty referred to in section 134A(2) of the Stamp Duties Consolidation Act 1999 , | ||
(III) the application of section 1077F(6) of the Taxes Consolidation Act 1997 to the Capital Acquisitions Tax Consolidation Act 2003 , and | ||
(IV) a penalty referred to in section 99C(6) of the Finance Act 2001 , | ||
and”, | ||
and | ||
(b) by the substitution of the following subsection for subsection (9): | ||
“(9) Where— | ||
(a) the aggregate amount of— | ||
(i) the liability to tax (within the meaning of subsection (1)), | ||
(ii) the liability to tax (within the meaning of section 1077F(1) of the Taxes Consolidation Act 1997 ), | ||
(iii) the liability to duty (within the meaning of section 134A(15) of the Stamp Duties Consolidation Act 1999 ), | ||
(iv) the differences specified in subsections (5) and (5A), as appropriate, of section 58 of the Capital Acquisitions Tax Consolidation Act 2003 , and | ||
(v) the liability to tax (within the meaning of section 99C(1) of the Finance Act 2001 ), | ||
does not exceed €6,000, and | ||
(b) but for this subsection the penalty would be reduced in accordance with subsection (7) or (8) of this section, subsection (7) or (8) of section 1077F of the Taxes Consolidation Act 1997 , subsection (5)(b) or (5A)(b) of section 134A of the Stamp Duties Consolidation Act 1999 or subsection (7) or (8) of section 99C of the Finance Act 2001 , as the case may be, | ||
then, notwithstanding subsection (2) or (4), as the case may be, that person shall not be liable to a penalty.”. |