[Ireland] €400m overpaid tax refunded by Revenue

In Ireland, new figures from Revenue have revealed that refunds of more than €400m have been issued to people who overpaid tax in 2024, Irish Examiner reports.

In its published statistics on 2024 PAYE Income Tax Returns filed so far this year, Revenue found that more than 80 per cent of returns resulted in an overpayment of tax, affecting around 444,000 people. 

Nearly 12 per cent of the 2024 returns processed to date this year reportedly resulted in an underpayment of tax, affecting around 66,000. Revenue said that it was working with those impacted to collect the underpayment by reducing their future tax credits, over four years. 

The statistics published on February 4 also show that a further €389m may have been overpaid during 2024. Revenue launched a public information campaign to raise awareness among PAYE taxpayers about the range of tax credits and reliefs available and how to claim them.

Dan Oosthuizen from Revenue’s PAYE Services told the Irish Examiner, “Our records indicate that a further €389m may have been overpaid in 2024, and I, therefore, encourage all PAYE taxpayers to log on to Revenue’s myAccount service to finalise their tax position as soon as they can." 

"Taxpayers are also reminded that they have four years to claim any additional refund they may be due. Any taxpayer who has not yet done so should therefore also review and finalise their tax position for each of the years 2021, 2022 and 2023," Mr Oosthuizen said.

"If Revenue owes you money, you’ll get a refund into your bank account within days. If you owe Revenue money, we’ll work with you to find a suitable payment option.”

Source: Irish Examiner

(Quotes via original reporting)

In Ireland, new figures from Revenue have revealed that refunds of more than €400m have been issued to people who overpaid tax in 2024, Irish Examiner reports.

In its published statistics on 2024 PAYE Income Tax Returns filed so far this year, Revenue found that more than 80 per cent of returns resulted in an overpayment of tax, affecting around 444,000 people. 

Nearly 12 per cent of the 2024 returns processed to date this year reportedly resulted in an underpayment of tax, affecting around 66,000. Revenue said that it was working with those impacted to collect the underpayment by reducing their future tax credits, over four years. 

The statistics published on February 4 also show that a further €389m may have been overpaid during 2024. Revenue launched a public information campaign to raise awareness among PAYE taxpayers about the range of tax credits and reliefs available and how to claim them.

Dan Oosthuizen from Revenue’s PAYE Services told the Irish Examiner, “Our records indicate that a further €389m may have been overpaid in 2024, and I, therefore, encourage all PAYE taxpayers to log on to Revenue’s myAccount service to finalise their tax position as soon as they can." 

"Taxpayers are also reminded that they have four years to claim any additional refund they may be due. Any taxpayer who has not yet done so should therefore also review and finalise their tax position for each of the years 2021, 2022 and 2023," Mr Oosthuizen said.

"If Revenue owes you money, you’ll get a refund into your bank account within days. If you owe Revenue money, we’ll work with you to find a suitable payment option.”

Source: Irish Examiner

(Quotes via original reporting)