These sections also provide for a new general entitlement to interest on overpaid taxes. This provision will apply from six months after the date on which the claim is made by the taxpayer. However, where the Revenue misconstrues the law, interest will be paid in general from the date the excess tax was paid, subject to the overall time limit on repayments of four years. This new scheme will replace all other existing arrangements, including those provisions dealing with interest paid on refunds of overpayments of preliminary tax. The rate of simple interest on repaid tax is being reduced from 0.0161% per day to 0.011% per day or from approximately 6% to 4% per annum. Such interest is tax free. These measures provide a fair and transparent scheme for the refund of overpaid taxes and interest on such refunds in the future. They also address the issue raised by the Ombudsman in relation to the need for a general scheme. All these provisions are subject to a ministerial order and will come into effect after the orders are signed.