Finance Act 2022
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Amendment of section 1077F of Principal Act (penalty for deliberately or carelessly making incorrect returns or failing to make certain returns, etc.) | ||
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86. Section 1077F of the Principal Act is amended— | ||
(a) in subsection (1), in the definition of “qualifying disclosure”— | ||
(i) in paragraph (a), by the substitution of the following subparagraph for subparagraph (ii): | ||
“(ii) full particulars of all matters occasioning any liability to tax or duty that gives rise to— | ||
(I) a penalty referred to in section 116A(6) of the Value-Added Tax Consolidation Act 2010 , | ||
(II) a penalty referred to in section 134A(2) of the Stamp Duties Consolidation Act 1999 , | ||
(III) the application of subsection (6) 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 | ||
(ii) in paragraph (b), by the substitution of “subsection (7) or (8)” for “subsections (7) and (8) ”, | ||
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 116A(1) of the Value-Added Tax Consolidation Act 2010 ), | ||
(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 116A of the Value-Added Tax Consolidation Act 2010 , 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.”. |