asked the Minister for Finance the amount of interest due on 1st May on turnover tax payments which were not remitted to the Collector General (turnover tax) within nine days following the tenth day of the month following that on which these payments were due.
Ceisteanna—Questions. Oral Answers. - Turnover Tax Payments.
5.
Interest on late payments of turnover tax is calculated by reference to the figures shown in the monthly returns when they are actually received. It is not possible, therefore, to state the total amount of interest due on 1st May, 1964, since all the outstanding returns up to that date have not yet been received. The amount of interest demanded by reference to turnover tax returns actually received in the period from the commencement of the tax to the 1st May was £1,850 0s. 11d.
Does the Minister state it is not possible to know the total amount due?
That is right.
Does the Minister consider it reasonable to remit these demands for interest, in view of the trouble shopkeepers have in preparing their accounts for turnover tax, PAYE and social welfare payments?
Each individual taxpayer must be dealt with on his own and interest will depend on the number of days the account is overdue. Some accounts would not be dealt with at all on 1st May, and the interest is, therefore, not calculated until the amount is due for payment.