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Tax Data

Dáil Éireann Debate, Tuesday - 22 January 2019

Tuesday, 22 January 2019

Questions (116)

Billy Kelleher

Question:

116. Deputy Billy Kelleher asked the Minister for Finance the number of SMEs that had interest applied on late payment of income tax based on the latest annual information; the rate of interest applied on such late payments here; and the rate of interest applied in the UK and in other EU and OECD countries in tabular form. [2408/19]

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Written answers

I am advised by Revenue that interest on late payment statistics are collated on the basis of interest charges paid and not on the number of SMEs charged.  A total of 14,244 taxpayers paid interest amounting to €33.37m in 2017 in respect of the late payment of Income Tax, including interest charged as part of audit settlements.

The current rate of interest in respect of late payment of Income Tax is 8% per annum (0.0219% per day).

It is not possible to provide an EU or OECD tabular breakdown in the manner requested by the Deputy because the systems operating across the various jurisdictions are not directly comparable. For example, some jurisdictions apply surcharges and penalties in addition to interest charges, while others apply different rates for different taxes and for different periods of default.   However, detailed data on penalties and interest for non-compliance/failure to pay tax on time in the UK, EU and OECD countries is contained in an OECD/Forum on Tax Administration publication entitled “Comparative Information Series”, details of which can be found at:

http://www.oecd.org/tax/forum-on-tax-administration/publications-and-products/comparative/CIS-2010.pdf.

The data is contained in Table 57 on page 260 of that publication.

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