Finance Act 2020
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Repayment or refund of payment made in excess of liability to tax assessed by taxpayer | ||
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69. Chapter 1B of Part 42 of the Principal Act is amended by inserting the following section after section 960G: | ||
“Repayment or refund of payment made in excess of liability to tax assessed by taxpayer | ||
960GA. Notwithstanding any provision of the Acts that relates to interest on the repayment or refund of tax, where a person— | ||
(a) appeals against an assessment under Part 40A or applies to the High Court under Order 84 of the Rules of the Superior Courts ( S.I. No. 15 of 1986 ) for judicial review of a decision of the Appeal Commissioners in relation to an assessment, | ||
(b) makes a payment of tax to the Revenue Commissioners or to the Collector-General directly, by deduction or by offset under section 960H and identifies, as the liability to tax against which he or she wishes the payment to be set, a liability that is the subject of an assessment referred to in paragraph (a) (in this section referred to as the ‘disputed assessment’), and | ||
(c) is entitled to a repayment or refund of tax under any provision of the Acts pursuant to— | ||
(i) a settlement by agreement under section 949V in relation to the disputed assessment, | ||
(ii) the determination of the Appeal Commissioners under section 949AK in relation to the disputed assessment, where no appeal against that determination is made or, where such an appeal is made, the determination of the Appeal Commissioners is affirmed in whole or in part, or | ||
(iii) in any other case, the final determination by a court of legal proceedings instituted in respect of the disputed assessment, | ||
interest shall not be payable on the repayment or refund of tax referred to in paragraph (c), in so far as that repayment or refund relates to a payment made under paragraph (b) that is in excess of the amount of the assessment to tax made by the person.”. |