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Penalty Regime - Reverse Charge

  • 26-02-2017 12:19pm
    #1
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭


    Hi Folks,

    What are the fixed penalties for not applying Reverse Charge;

    (a) On intra - community acquisitions

    (b) On invoices from subcontractors

    Are there "per event" penalties?

    No loss of revenue in most cases assuming acquirer/principal has full deductibility so presumably self - correction without tax related penalties possible.


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Heisenburg81 wrote: »
    Hi Folks,

    What are the fixed penalties for not applying Reverse Charge;

    (a) On intra - community acquisitions

    (b) On invoices from subcontractors

    Are there "per event" penalties?

    No loss of revenue in most cases assuming acquirer/principal has full deductibility so presumably self - correction without tax related penalties possible.

    If it's as part of an audit revenue can fit it into one of these categories for a €4,000 fine however I believe outside an audit no penalty will apply.

    http://www.revenue.ie/en/tax/vat/guide/interest-penalties.html#section5

    Subcontractors have per event penalties for RCT I believe but that's not vat related.


  • #3
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    Thanks for that link. Very helpful.
    CIARAN_BOYLE wrote: »
    If it's as part of an audit revenue can fit it into one of these categories for a €4,000 fine however I believe outside an audit no penalty will apply.

    http://www.revenue.ie/en/tax/vat/guide/interest-penalties.html#section5

    Subcontractors have per event penalties for RCT I believe but that's not vat related.


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