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Tax Collection.

Dáil Éireann Debate, Wednesday - 25 February 2009

Wednesday, 25 February 2009

Ceisteanna (95, 96)

Finian McGrath

Ceist:

124 Deputy Finian McGrath asked the Minister for Finance if he will support a matter (details supplied). [7781/09]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Minister for Finance)

The day-to-day responsibility for collection of taxes and duties payable to the State rests with the Revenue Commissioners. I am advised by the Revenue that they are determined to maintain the high levels of compliance achieved over the last several years notwithstanding the more difficult economic circumstances in which businesses are now operating. Revenue expects that businesses organise their financial affairs to be timely compliant in paying their taxes. I fully support Revenue's stance in this regard.

An approach that involves holding back or parking the payment of VAT payments due to the State is not an acceptable approach from business. Such an approach, involving the use of such monies for cash flow within a business calls into question the basic viability of such businesses and is not a sustainable approach even in the current economic climate.

Some businesses who have always had a disposition to meet their obligations on time and in more favourable economic circumstances did precisely that are, however, experiencing particular difficulties in meeting their tax payment obligations in a timely fashion in the current environment. Revenue is prepared to work with such businesses, provided they are fundamentally viable, in finding a solution acceptable to Revenue to enable the survival of the business and the speedy resolution of those payment difficulties. I am aware that Revenue has always encouraged and continues to encourage businesses in such difficulties to talk to them at the earliest opportunity.

Ned O'Keeffe

Ceist:

125 Deputy Edward O’Keeffe asked the Minister for Finance when a refund of DIRT will be issued to a person (details supplied) in County Cork. [7798/09]

Amharc ar fhreagra

I am advised by the Revenue Commissioners that Deposit Interest Retention Tax (DIRT) at the rate of 23% for 2009 (20% for 2008) is deducted from interest earned on most deposits held in financial institutions such as banks, building societies, post office savings bank and credit unions. A person or his/her spouse can claim a repayment of DIRT if the following conditions are satisfied:

he/she is aged 65 or over, or

he/she is permanently incapacitated, and

his, her or their total income (including the gross DIRT income) is less than the relevant exemption limit.

A repayment of DIRT can be sought by submitting a written claim and certificates of interest subject to DIRT to their Revenue Office. Alternatively, an individual may claim a refund from Revenue by submitting a completed form 54D.

Finance Act 2007 introduced new arrangements that allows an individual to have any interest accrued on money on deposit credited to his/her account by the financial institution without deduction of DIRT, where he/she satisfies the above conditions. In order to claim such exemption, the individual should submit a completed declaration form, DE1 to the financial institution, stating that he/she or his/her spouse (if married) meet the required conditions. Full details are available on http://www.revenue.ie/en/tax/dirt/leaflets/de1.html

Revenue's records indicate that no claim for refund of DIRT has been received from the person in question. If the person in question would like to discuss his possible refund or seek assistance with completion of the forms, he should contact the Revenue Office in Cork, at telephone number 021 6027058.

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