Revenue has published 2023 PAYE statistics which show that over 472,000 PAYE income tax returns have been processed for 2023. This represents an increase of almost 30 percent on the number of returns processed in the same period last year. 275,000 of the returns filed to date have resulted in an overpayment of tax. Health expenses and the rent tax credit account for the largest additional claims returned by taxpayers. The 2023 mortgage interest tax credit is expected to be available to claim later this week.
The Minister for Finance, Michael McGrath T.D., in conjunction with Revenue, has launched a public information campaign to raise awareness among PAYE taxpayers about claiming the range of tax credits and reliefs available. PAYE taxpayers are also reminded that they need to inform Revenue of any additional income which they have earned outside the PAYE system.
Welcoming the launch of this information campaign, Minister McGrath said:
“Since 1 January 2024, €203 million has already been refunded to individuals’ bank accounts as a result of the 2023 returns filed by PAYE taxpayers to date, but Revenue records indicate that a further €480 million may have been overpaid during the year.
I therefore encourage all PAYE taxpayers to log on to Revenue’s myAccount service to finalise their tax position as soon as they can, to ensure that they have claimed all tax credits and reliefs they are entitled to and receive any refund they are due.”
Further information is available in Revenue’s press release.