£50 de minimis limit for ancillary claims

Quick info

According to the decree of the BMF of 7 November 2001, the 50 EURO limit mentioned in the article on late payment surcharges further applies to:
Late payment penalties (§ 135 BAO)
Interest on deferred payment (§ 212 (2) BAO)
Deferral interest (§ 212a (9) BAO)
Another new development is that, when determining a late payment surcharge based on an additional claim arising from a VAT assessment notice, the calculation is no longer based on the monthly or quarterly assessment periods, but on the additional claim as stated in the notice. It is therefore no longer possible to multiply the de minimis threshold – as was previously the case – (Section 21(4) of the Value Added Tax Act). For interest on claims, the 50-euro threshold is set out in Section 205(2) of the Federal Tax Code (BAO).

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