Late filing and payment of VAT is subject to penalties and interest on the tax amount. These penalties differ for each EU country and depend on the period of delay and the amount of tax payable. For example, in Estonia, 0.006% of the tax payable will be charged for each day of delay, and a company could potentially receive a fine of EUR 32,000 for failure to file a tax return and failure to pay tax. In Ireland, the late payment penalty is 0.0274% per day of delay, and the potential penalty for failure to file a return is €4,000. However, in addition to fines, the tax authorities can apply more severe penalties, ranging from blocking accounts to banning businesses from the country.