Dáil Éireann debate -
Tuesday, 5 May 1992

Vol. 419 No. 1

Written Answers. - DIRT Refunds.

Ivor Callely

Question:

75 Mr. Callely asked the Minister for Finance the number of people who received refunds on deposit interest retention tax on age basis over 65 years in 1991; if all those entitled to this refund are able to claim the refund of it easily or if there has been any noticeable problem; if it would be possible for the financial institutions to advise clients or to arrange the refunds from the Revenue Commissioners for clients who would be entitled to a refund on age basis but where the financial institutions have had to deduct retention tax from their accounts; and if he will make a statement on the matter.

Minister for Finance (Mr. B. Ahern)

I have been informed by the Revenue Commissioners that the available statistics on refunds of deposit interest retention tax do not distinguish between refunds made to approved charities, those made to individuals aged 65 or over and those made to incapacitated individuals. The total number of cases in which such refunds were made during 1991 was approximately 24,000; the vast bulk of these are likely to have been to individuals aged 65 years or over.

The Revenue Commissioners have introduced a series of measures to ensure that those entitled to claim refunds of deposit interest retention tax are aware of their entitlements and have the necessary claim forms. An extensive advertising campaign was undertaken in the press and on radio in April 1990 to draw attention to the circumstances in which an individual is entitled to a refund. As a result of this campaign there was an appreciable increase in the number of claims for refunds received in 1990 and 1991. Since the advertising campaign the Revenue Commissioners have maintained a computerised record of all taxpayers who qualify for refunds and those taxpayers are automatically issued with claim forms in advance of the end of the year. A special simplified version of the claim form has been designed for those claimants who are on the Revenue records only for the purposes of deposit interest.

The Commissioners are constantly monitoring the situation for new and innovative ways of targeting the over 65s and, for example, have recently redesigned their information leaflet on deposit interest retention tax to place greater emphasis on the categories of persons entitled to refunds and distributed this leaflet to all shows and seminars where the Commissioners have a presence, including an "Active Age Week" in a Dublin Department store. With the enactment of the proposed changes in deposit interest retention tax provided for in the Finance Bill, 1992, consideration will be given by the Commissioners to the need for additional publicity.

As far as advice by financial institutions to their clients is concerned, that is a matter for these institutions themselves. The Revenue Commissioners are satisfied that the present system is working satisfactorily. In these circumstances I have no plans to introduce any changes along the lines suggested by the Deputy.