Finance Act 2003
Administrative changes. |
146.—(1) The Principal Act is amended— | |||
(a) by substituting the following for section 25: | ||||
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(b) by inserting the following after section 45: | ||||
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(c) by inserting the following after section 46: | ||||
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and | ||||
(d) in section 58— | ||||
(i) by inserting the following after subsection (1): | ||||
“(1A) Where a person fails to comply with a requirement to deliver a return or additional return under subsection (2), (6) or (8) of section 46, by reason of fraud or neglect by that person, that person is liable to a penalty of— | ||||
(a) €2,535, and | ||||
(b) the amount, or in the case of fraud twice the amount, of the difference specified in subsection (5A).”, | ||||
and | ||||
(ii) by inserting the following after subsection (5): | ||||
“(5A) The difference referred to in paragraph (b) of subsection (1A) is the difference between— | ||||
(a) the amount of tax paid by that person in respect of the taxable gift or taxable inheritance to which the return or additional return relates, and | ||||
(b) the amount of tax which would have been payable if the return or additional return had been delivered by that person and that return or additional return had been correct.”. | ||||
(2) 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. |