On 12 February 2025, the Tax Department provided an update for taxpayers involved in related party transactions under Section 33 of the Income Tax Law. Although such taxpayers must normally file a Summary Information Table (SIT) by 28 February 2025, no administrative penalties will be applied as long as both the Corporate Income Tax Return (T.D.4) and the SIT are submitted by 31 May 2025.

A subsequent announcement on 13 February 2025 further clarified that companies and self-employed individuals with the obligation to prepare accounts may also submit their T.D.4 or T.D.1 Self-Employed returns by 31 May 2025 without penalty, regardless of whether they need to file an SIT.

Taxpayers filing after 31 May 2025 will be subject to the following penalties:

• A €500 fine for late submission of the SIT for the 2022 tax year.
• A €100 fine for late submission of the T.D.4 or T.D.1 Self-Employed (for the 2022 tax year) in cases where the individual or entity must prepare accounts.