Finance (No.2) Act 2023
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Provisions in relation to repayment of stamp duty | ||
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76. The Principal Act is amended— | ||
(a) in section 18, by the insertion of “, subject to section 159A,” after “the Commissioners shall”, | ||
(b) in section 29— | ||
(i) in subsection (4)(b), by the substitution for all of the words from and including “on an application to the Commissioners within 3 years after the date of stamping of the instrument,” down to and including “prescribed by the Minister by regulations,” of the following: | ||
“on an application to the Commissioners within 3 years after the date of stamping of the instrument, and subject to section 159A, be repaid to the person or persons by whom the stamp duty was paid and such repayment shall bear interest calculated in accordance with section 159B”, | ||
and | ||
(ii) in subsection (7)— | ||
(I) by the insertion of “and subject to section 159A,” after “was paid,”, and | ||
(II) by the substitution of “shall bear interest calculated in accordance with section 159B” for “shall bear simple interest at the rate of 0.0161 per cent, or such other rate (if any) as stands prescribed by the Minister by regulations,”, | ||
(c) in section 31(4), by the substitution of “shall, on an application to the Commissioners and subject to section 159A, be repaid” for “shall be returned by the Commissioners”, | ||
(d) in section 33(2), by the insertion of “, subject to section 159A,” after “the Commissioners shall”, | ||
(e) in section 50A(2), by the substitution of “shall, on an application to the Commissioners and subject to section 159A, be repaid by the Commissioners” for “shall be returned”, | ||
(f) in section 53— | ||
(i) in subsection (4)(b), by the substitution for all of the words from and including “on an application to the Commissioners within 3 years after the date of stamping of the instrument,” down to and including “prescribed by the Minister by regulations,” of the following: | ||
“on an application to the Commissioners within 3 years after the date of stamping of the instrument, and subject to section 159A, be repaid to the person or persons by whom the stamp duty was paid and such repayment shall bear interest calculated in accordance with section 159B”, | ||
and | ||
(ii) in subsection (7)— | ||
(I) by the insertion of “and subject to section 159A,” after “was paid,”, and | ||
(II) by the substitution of “shall bear interest calculated in accordance with section 159B” for “shall bear simple interest at the rate of 0.0161 per cent, or such other rate (if any) as stands prescribed by the Minister by regulations,”, | ||
(g) in section 78G(1), by the insertion of “, subject to section 159A,” after “shall”, | ||
(h) in section 80(9), by the insertion of “subject to section 159A,” after “be acquired by the acquiring company,”— | ||
(i) in section 81AA(11)(d), by the insertion of “, subject to section 159A,” after “then”, | ||
(j) in section 81C(5), by the insertion of “and to section 159A” after “conditions set out in subsection (6)”, | ||
(k) in section 83D— | ||
(i) in subsection (8)(c), by the substitution of “declaration” for “statutory declaration”, and | ||
(ii) in subsection (10), by the insertion of “and section 159A” after “this section”, | ||
(l) in section 83DA(5), by the insertion of “and section 159A” after “this section”, | ||
(m) in section 83DB(10), by the insertion of “and section 159A” after “this section”, | ||
(n) in section 84(2), by the insertion of “, subject to section 159A,” after “shall”, | ||
(o) in section 151(2)— | ||
(i) in paragraph (c), by the substitution of “conveyed or transferred by that instrument, and” for “conveyed or transferred by that instrument.”, and | ||
(ii) by the insertion of the following paragraph after paragraph (c): “(d) all of the requirements of section 159A are met.”, | ||
(p) by the substitution of the following section for section 152: | ||
“Repayment of overpaid stamp duty | ||
152. (1) In this section— | ||
‘relevant statement’ means— | ||
(a) an account delivered to the Commissioners under section 5, or | ||
(b) a statement delivered to the Commissioners under Part 9; | ||
‘return’ means an electronic return or a paper return made to the Commissioners in relation to an instrument. | ||
(2) Where a person has made a payment of stamp duty, including any interest charged, surcharge imposed or penalty incurred, under any provision of this Act, in relation to— | ||
(a) an instrument, or | ||
(b) a relevant statement, | ||
which— | ||
(i) was not due, or | ||
(ii) but for an error or mistake made by the person in the return to which the instrument relates or, as the case may be, in the relevant statement, would not have been due, | ||
the person shall, on an application to the Commissioners and subject to section 159A, be entitled to a repayment of the payment concerned.”, | ||
(q) by the substitution of the following section for section 159A: | ||
“General provisions on claims for repayment of stamp duty | ||
159A. (1) In this section— | ||
‘relevant statement’ and ‘return’ have the same meaning, respectively, as in section 152; | ||
‘repayment’ means a repayment of stamp duty including any— | ||
(a) interest charged, | ||
(b) surcharge imposed, or | ||
(c) penalty incurred, | ||
in relation to stamp duty under any provision of this Act; | ||
‘valid claim’ shall be construed in accordance with subsection (3). | ||
(2) The Commissioners shall not make a repayment to a person unless— | ||
(a) such repayment is provided for by this Act, | ||
(b) a valid claim has been made to them for that purpose, and | ||
(c) without prejudice to any other provision of this Act containing a shorter time limit for the making of a claim for repayment, the valid claim concerned has been made within the period of 4 years from, as the case may be— | ||
(i) in respect of an instrument stamped by the Commissioners, the latest date the instrument was required to be stamped under section 2, | ||
(ii) in respect of a relevant statement delivered to the Commissioners— | ||
(I) in the case of an account delivered to the Commissioners under section 5, the latest date the account was required to be delivered to the Commissioners in accordance with the agreement entered into under that section, or | ||
(II) in the case of a statement delivered to the Commissioners under Part 9, the latest date the statement was required to be delivered to the Commissioners under that Part, | ||
(iii) the date the transfer order referred to in section 78B was executed, | ||
(iv) the date the person achieved the standard within the meaning of section 81AA(11)(a), | ||
(v) the date of acknowledgement referred to in section 83D(10)(c) in relation to a relevant residential development within the meaning of that section, | ||
(vi) the date the condition specified in section 83DA(2)(b) is satisfied, or | ||
(vii) the qualifying date within the meaning of section 83DB. | ||
(3) For the purposes of this section, a claim for repayment shall be treated as a valid claim where— | ||
(a) it is made in the form and manner specified (if any) by the provision, or provisions, of this Act under which such claim is made, | ||
(b) all information which the Commissioners may reasonably require to enable them to determine if, and to what extent, a repayment is due, has been furnished to them, and | ||
(c) if the claim relates to a repayment under section 152, the return or, as the case may be, the relevant statement, has been amended to reflect the correct amount of stamp duty payable, if any. | ||
(4) Where the Commissioners determine that any of the requirements specified in subsection (2) or (3), as the case may be, have not been met in relation to a claim for repayment, they shall decide to refuse the claim for repayment and shall notify the claimant in writing of the decision and the reason or reasons for that decision. | ||
(5) Any person aggrieved by a decision of the Commissioners under subsection (4) to refuse a claim for repayment may appeal to the Appeal Commissioners against the decision in accordance with section 949I of the Taxes Consolidation Act 1997 within the period of 30 days after the date of the notification of the decision.”, | ||
and | ||
(r) by the substitution of the following section for section 159B: | ||
“Interest on repayment of stamp duty | ||
159B. (1) In this section— | ||
‘relevant date’, in relation to a repayment, means— | ||
(a) the date which is 93 days after the date on which a valid claim in respect of the repayment is made to the Commissioners, or | ||
(b) if the repayment is due to a mistaken assumption in the operation of stamp duty on the part of the Commissioners, the date which is the date of payment of the stamp duty, interest, surcharge or penalty, as the case may be, which has given rise to that repayment; | ||
‘repayment’ has the same meaning as in section 159A; | ||
‘valid claim’ shall be construed in accordance with section 159A(3). | ||
(2) Subject to the provisions of this section, where a person is entitled to a repayment in accordance with any provision of this Act, the amount of the repayment shall, subject to a valid claim in respect of the repayment being made to the Commissioners, unless the contrary intention appears and subject to section 960H(4) 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 by order under subsection (5)(a)) 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. | ||
(3) Interest shall not be payable under this section if it would amount to €10 or less. | ||
(4) 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. | ||
(5) (a) The Minister may, from time to time, make an order prescribing a rate for the purposes of subsection (2). | ||
(b) Every order made by the Minister 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.”. |