Did you file your gift tax return late?
You must file a gift tax return within 3 months of the date when the gift was given.
If you file a gift tax return or related information late, the Tax Administration may impose a late filing penalty or punitive tax increase. You may also have to pay a punitive tax increase if the return you file is incomplete or incorrect or if you do not file a gift tax return at all.
If your gift tax return is late by no more than 60 days, you may have to pay a late filing penalty.
The late filing penalty is
- €50 for individual taxpayers
- €100 for other taxpayers, such as companies and corporations.
If your a gift tax return is late by more than 60 days, you may have to pay a punitive tax increase.
The punitive tax increase is at least
- €75 for individual taxpayers
- €150 for other taxpayers, such as companies and corporations.
If you have a valid reason for filing late – if you are suddenly taken ill or have problems with data transmission, for example – no late filing penalty or punitive tax increase will be imposed. Whenever a punitive tax increase is imposed, the Tax Administration will send you a hearing letter.