Claims for losses and allowances are also restricted where the return is submitted late. The restrictions are respectively 25% subject to a cap of \u20ac31,740 for filing two months late and a 50% restriction subject to a cap of \u20ac158,715 for filing late beyond this. This is over and above interest and penalties which would also arise. The preliminary tax payment is ignored in this context.<\/p>\n
The local property tax in relation to any residential properties the company owns must also be filed and the relevant liability paid, in order to avoid the surcharge.<\/p>\n
A negligent or fraudulent return is treated as not made in time. Therefore the surcharge applies unless the error is remedied by the due date for the return. If there are errors in the return, nut they are not fraudulent or negligent, the company may not be surcharged if it remedies the error within a reasonable time.<\/p>\n\n
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Tax Returns The system of preliminary tax, tax returns and assessments for companies is broadly similar to that for individuals. An initial return is also required upon commencement to trade. Companies must self assess their tax liabilities. If they have any income profit or gains potentially within the scope of tax in that period, they […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[99],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/11035"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=11035"}],"version-history":[{"count":2,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/11035\/revisions"}],"predecessor-version":[{"id":11079,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/11035\/revisions\/11079"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=11035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=11035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=11035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}