Don’t Miss the Income Tax Return Deadline!

/in

The income tax return filing deadline is fast approaching! While the normal filing date is October 31, 2024, you have until November 14, 2024, if you file and make the appropriate payment through ROS. This extension applies to:

  • Income tax liability balance due for 2023.
  • Preliminary income tax due for 2024 based on the 2023 liability.

It is crucial to file your return, calculate your liabilities, and pay on time to avoid interest and penalties. Gathering documents can take time, so we advise that companies start now to ensure you meet the deadline.

Penalties for Missing the Deadline:

Missing the October 31st deadline can result in daily interest charges and a surcharge. If you submit your 2023 return after October 31, 2024, but before December 31, 2024, the surcharge will be the lesser of:

  • 5% of the tax due, or
  • €12,695

If submitted after December 31, 2024, the surcharge will be the lesser of:

  • 10% of the tax due, or
  • €63,485

These surcharges are calculated on the full tax payable for the year and do not account for any payments on account. For proprietary directors, the surcharge is calculated before deducting PAYE paid during the year.

Get Expert Help

At EcovisDCA, we ensure your tax affairs are handled efficiently and on time. For guidance on preparing your return and calculating the correct liabilities, reach out to us. We’re here to help you meet deadlines and stay stress-free!