Finance Act, 2000

Amendment of section 20 (refund of tax) of Principal Act.

116.—Section 20 of the Principal Act is amended—

(a) by the insertion in subsection (3) of the following paragraph after paragraph (b):

“(bb) An order under this subsection may, if so expressed, have retrospective effect.”,

(b) by the substitution in subsection (5) of the following paragraph for paragraph (a)—

“(a) Where, due to a mistaken assumption in the operation of the tax, whether that mistaken assumption was made by a taxable person, any other person or the Revenue Commissioners, a person—

(i) accounted, in a return furnished to the Revenue Commissioners, for an amount of tax for which that person was not properly accountable, or

(ii) did not, because that person’s supplies of goods and services were treated as exempted activities, furnish a return to the Revenue Commissioners and, therefore, did not receive a refund of an amount of tax in accordance with subsection (1), or

(iii) did not deduct an amount of tax in respect of qualifying activities, as defined in section 12(1)(b), which that person was entitled to deduct,

then, in respect of the total amount of tax referred to in subparagraphs (i), (ii) or (iii) (in this subsection referred to as the ‘overpaid amount’) that person may claim a refund of the overpaid amount and the Revenue Commissioners shall, subject to the provisions of this subsection, refund to the claimant the overpaid amount unless that refund would result in the unjust enrichment of the claimant.”,

(c) by the substitution in subsection (5)(d)(i) of “a loss of demand for those goods or services, for the period for which the claim is being made”, for “a loss of turnover”, and

(d) by the substitution in subsection (5)(d)(iii) of “loss of demand” for “loss of turnover”.