If a business has made an error in respect of its VAT affairs, it may be liable to penalties of between €130 and €26,540. For managing directors the penalties imposed may be between €60 and €5,300.
Where an incorrect VAT return is submitted, the tax administration does not usually levy any additional penalties. Interest at the current rate of 4.5%
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Web page updated on 24 Aug 2024 16:27