Submitting Tax Return but No Money Passed Through Company

[firedata]

Last year, I registered a company with the CRO. However, no money has passed through the company at all and nothing was spent. I am looking to close the company at the moment. Do I still need to submit a tax return? It is now late and penalties are due on it, but there is no money in the business to pay for these penalties. Any advice?

 

[Joe_90]

Ok
there are 2 reporting requirements - CRO & Tax Office.
1. CRO:
The company was given an Annual Return Date which was 6 months after the date of incorporation. I presume you have not filed this. Fine is €100 + 3 per day for late filing. Audited accounts are not required with the first return. This is your major problem because you can not have the company dissolved while the returns are outstanding. The CRO will not waive these late filing fees.
2. Tax Office:
The CT1 is due within 9 months of the year end - so this is not late yet.