I understand from the Revenue Commissioners that the Appeal Commissioner determined on 11 June 2012, that the company concerned is entitled to a credit of the RCT for the year 2007. While the Revenue Commissioners had initially requested that a Case Stated be prepared for the Opinion of the High Court, following further consideration of this matter Revenue decided not to proceed with the Case Stated to the High Court. The solicitors for the company concerned were advised of this on 3 June and Revenue apologised for the delay in finalising this matter.
A credit for Relevant Contracts is available to the company. It has been agreed with the agents for the company that this credit should be used to satisfy any VAT liability of the company concerned with any remaining balance repaid to the company. A meeting has been arranged between Revenue and the advisers to the company for 24 June to discuss and agree the quantum of the VAT liability following which it is expected that matters can be finalised without delay.
