Dáil Éireann Debate, Wednesday - 10 April 2024
20. Deputy Richard Bruton asked the Minister for Finance if he has considered the extent of unclaimed tax allowances and other benefits; if he would consider establishing a cross-Government initiative to promote better take-up of such benefits; and if he will make a statement on the matter. [15263/24]
View answerI am advised by Revenue that it is not possible to provide the Deputy with an estimate of unclaimed tax allowances and other benefits. Any overpayments due to PAYE taxpayers can only be quantified when they submit their Income Tax Returns at the end of the year and claim any additional credits or reliefs that may be due.
At the end of every year, Revenue makes an Employment Detail Summary and a Preliminary End of Year Statement (PEOYS) available to employees based on information available and indicate whether their tax position is balanced, underpaid, or overpaid for the year.
If a taxpayer wishes to claim additional credits, reliefs, or expenses they will need to complete an Income Tax return for the year. Revenue will then generate a Statement of Liability confirming their final tax position.
I am advised by Revenue that, nearly 819,000 taxpayers have already filed their 2023 Income Tax Return and refunds of €499 million have been issued to 615,000 taxpayers. 810,000 taxpayers had filed their 2022 Income Tax Return by the end of quarter 1 2023, and at the same point in 2022 641,000 taxpayers had filed their 2021 Income Tax Return.
Revenue regularly issues letters to taxpayers who, according to their PEOYS, may have either overpaid or underpaid tax in a particular tax year, advising recipients to submit an Income Tax return to claim any additional tax credits or reliefs that they may be due and/or to declare any additional income they may have received, including a reminder of the four-year time limit in respect of submitting such claims.
In February, Revenue, in conjunction with my Department launched an extensive information campaign to raise awareness among PAYE taxpayers about Revenue’s quick, easy, and free to use myAccount service, which taxpayers can use to finalise their tax position. It also informed PAYE taxpayers about the range of tax credits and reliefs available, and how they can claim those credits and reliefs.
Campaign information was shared with other Government Departments through our Government Information Service (GIS) platform, with other Departments asked to amplify the campaign message, as they do with all such campaigns for Government Departments/agencies.
