Capital Acquisitions Tax Consolidation Act 2003 (Number 1 of 2003)
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57 Overpayment of tax.
[CATA 1976 s46]
(1) Where, on application to the Commissioners for under this section, it is proved to their satisfaction that an amount has been paid in excess of the liability for tax or for interest on they shall give relief by means of repayment of the excess or otherwise as is reasonable and just; and any such repayment shall simple interest (not exceeding the amount of such excess), at the of 0.0161 per cent or such other rate (if any) as stands prescribed the Minister for Finance by regulations, for each day or part of a from the date on which the payment was made, and income tax not to be deductible on payment of interest under this section such interest is not to be reckoned in computing income for the poses of the Tax Acts.
(2) Every regulation made under this section shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the regulation is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done under that regulation.
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57 Overpayment of tax.
(1) In this section—
“relevant date”, in relation to a repayment of tax means—
(a) the date which is [2]>183 days<[2][2]>93 days<[2] after the date on which a valid claim in respect of the repayment is made to the Commissioners, or
(b) where the repayment is due to a mistaken assumption in the operation of the tax on the part of the Commissioners, the date which is the date of the payment of the tax which has given rise to that repayment;
“repayment” means a repayment of tax including a repayment of—
(a) any interest charged,
(b) any surcharge imposed,
(c) any penalty incurred,
under any provision of this Act in relation to tax;
[8]>“tax” includes [4]>probate tax and<[4] interest charged, a surcharge imposed or a penalty incurred under any provision of this Act.<[8][8]>“tax” includes probate tax, payment on account of tax, interest charged, a surcharge imposed or a penalty incurred under any provision of this Act.<[8]
(2) Where, a claim for repayment of tax made to the Commissioners, is a valid claim, the Commissioners shall, subject to the provisions of this section, give relief by means of repayment of the excess or otherwise as is reasonable and just.
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(3) Notwithstanding subsection (2), no tax shall be repaid to an accountable person in respect of a valid claim unless that valid claim is made within the period of 4 years [5]>commencing on [5]>commencing on 31 October in the year in which that tax was due to be paid in accordance with section 46(2A).<[5][3]>the later of the valuation date or the date of the payment of the tax concerned<[3][3]>the valuation date or the date of the payment of the tax concerned (where that tax has been paid within 4 months after the valuation date)<[3].<[5]
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(3)Notwithstanding subsection (2), no tax shall be repaid to an accountable person in respect of a valid claim unless that valid claim is made within the period of 4 years commencing on—
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(a) 31 October in the year in which that tax was due to be paid in accordance with section 46(2A), or
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(a) 31 December in the year in which that tax was due to be paid in accordance with section 46(2A), or
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(b) the valuation date or the date of the payment of the tax concerned (where the tax has been paid within 4 months of the valuation date) in respect of inheritances to which sections 15(1) and 20(1) apply.
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(4) Subsection (3) shall not apply to a claim for repayment of tax arising by virtue of section 18(3), Article VI of the First Schedule to the Finance Act 1950, or Article 9 of the Schedule to the Double Taxation Relief (Taxes on Estates of Deceased Persons and Inheritances and on Gifts) (United Kingdom) Order 1978 (S.I. No. 279 of 1978).
(5) Subsection (3) shall not apply to a claim for repayment of tax arising on or before the date of the passing of the Finance Act 2003, where a valid claim is made on or before 31 December 2004.
(6) Subject to the provisions of this section, where a person is entitled to a repayment, the amount of the repayment shall, subject to a valid claim in respect of the repayment being made to the Commissioners and subject to [7]>section 1006A(2A)<[7][7]>section 960H(4)<[7] of the Taxes Consolidation Act 1997, carry simple interest at the rate of 0.011 per cent, or such other rate (if any) prescribed by the Minister for Finance by order under subsection (11), for each day or part of a day for the period commencing on the relevant date and ending on the date upon which the repayment is made.
(7) A claim for repayment under this section shall only be treated as a valid claim when—
(a) it has been made in accordance with the provisions of the law (if any) relating to tax under which such claim is made, and
(b) all information which the Commissioners may reasonably require to enable them determine if and to what extent a repayment is due, has been furnished to them.
(8) Interest shall not be payable under this section if it amounts to €10 or less.
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(9) This section shall not apply in relation to any repayment or part of a repayment of tax in respect of which interest is payable under or by virtue of any provision of any other enactment.
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(9) Except as provided for by this Act or by section 941 of the Taxes Consolidation Act 1997 as it applies for the purposes of capital acquisitions tax, the Commissioners shall not repay an amount of tax paid to them or pay interest in respect of an amount of tax paid to them.
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(10) Income tax shall not be deductible on any payment of interest under this section and such interest shall not be reckoned in computing income for the purposes of the Tax Acts.
(11) (a) The Minister for Finance may, from time to time, make an order prescribing a rate for the purposes of subsection (6).
(b) Every order made by the Minister for Finance under paragraph (a) shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the order is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done under it.
(12) The Commissioners may make regulations as they deem necessary in relation to the operation of this section.
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Substituted by FA03 s145(1)(d). With effect from 31 October 2003 per S.I. 515 of 2003 insofar as it relates to subsections (2) to (5) and otherwise as respects repayments of capital acquisitions tax made on or after 1 November 2003.
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Substituted by FA08 s127(1). This section applies to claims for repayment of tax made on or after 31 January 2008.
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Substituted by FA12 s128(3). Shall apply as respects any tax (within the meaning of section 865B (inserted by subsection (1)(d)) of the Taxes Consolidation Act 1997) paid or remitted to the Revenue Commissioners or the Collector-General, as the case may be, whether before, on or after 31 March 2012.
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Substituted by FA13 s87(1)(a). Applies as respects any claim for repayment made on or after 27 March 2013.
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Substituted by FA13 s87(1)(b). Applies as respects any claim for repayment made on or after 27 March 2013.