Dáil Éireann Debate, Tuesday - 5 March 2013
151. Deputy James Bannon asked the Minister for Finance when a person (details supplied) in County Longford will be repaid moneys due in respect of RCT contractors tax for 2012; and if he will make a statement on the matter. [11294/13]
Amharc ar fhreagraI am advised by the Revenue Commissioners that, in the year 2012, Relevant Contracts Tax (RCT) of €28,730.27 was deducted from relevant payments made to the person in question and remitted to Revenue. As requested by his agent, a total of €23,332.47 of this has been offset against other liabilities, as follows:
- VAT liabilities of €7,167.00 for the year 2011;
- VAT liabilities of €5,951.60 for the year 2012;
- Income tax liabilities of €6,106.87 for the year 2011;
- Preliminary tax of €4,107.00 for the year 2012.
A balance of €5,397.80 in respect of RCT remains on the tax record of the person in question. Revenue may repay Relevant Contract Tax suffered, subject to restriction for any amounts of I.T., C.G.T., VAT, PAYE, Interest, or PRSI outstanding.
The final tax liability of the person in question can only be calculated upon receipt of his return of income for the year 2012. Therefore, Revenue is not in a position to determine if any of the remaining balance is for repayment until the 2012 final Income Tax liability of the person in question has been finalised following receipt of his 2012 Return. While Returns of Income for the 2012 tax year are not finally due until October 2013, Returns can be filed earlier than the final date for completion. Accordingly, if the person submits his return now, his tax position can be determined and if any refund is due, it will be processed without delay .
