Dáil Éireann Debate, Thursday - 9 September 2021
202. Deputy Brendan Griffin asked the Minister for Finance if a Revenue Commissioners relevant contracts tax refund will be paid to a self-employed person (details supplied) in County Kerry; and if he will make a statement on the matter. [42560/21]
View answerSection 530P of the Taxes Consolidation Act 1997 precludes Revenue from issuing a refund of Relevant Contracts Tax (RCT) until the income tax return for the relevant year (or the Corporation Tax return for the relevant accounting period of a company) has been filed and all associated liabilities discharged. However, the RCT refund is available for offset against other tax liabilities that may arise.
I am advised by Revenue that the person in question is seeking a refund of RCT in respect of the periods July and August 2021. In accordance with the legislation, it is not possible for Revenue to process such a refund until the 2021 income tax return is filed (due by 31 October 2022), an assessment raised, and any liabilities discharged. However, the refund amount is available to offset against any other tax liabilities that arise for the person during the interim period.
Revenue has confirmed that it has already clarified the position to the person.
