The Commissioner for Revenue (CfR) issued guidelines on the implementation of the increase in the administrative penalties imposed upon the late filing of recapitulative statements required to be made in terms of Article 30(3) of the VAT Act and on such form and at such intervals as laid down under Subsidiary Legislation 406.14, The Value Added Tax (Recapitulative Statement Of Intra-Community Transactions) Regulations.
The penalty for the late submission of the recapitulative statement shall now be €50 per month (or part thereof) subject to a maximum capping of €600 for each such statement.
The CFR is granting a one time concession for any overdue recapitulative statements to be filed by or before 15 September 2023, after which any late submissions shall incur penalties.