Bernard Durkan (Kildare North, Fine Gael)
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Question 509: To ask the Minister for Finance if further review of entitlement to refund of interest in respect of capital gains tax will be undertaken in the case of a person (details supplied) in County Kildare; and if he will make a statement on the matter. [33653/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that they have re-examined the papers in this case and have confirmed that the position is as previously advised, namely, that there is no provision in tax law for payment of interest on the capital gains tax repaid in this case.

Under section 865A of the Taxes Consolidation Act 1997 interest on such repayments only arises where the repayment is not made within a period of 93 days after a person's application for the repayment becomes a valid claim. In the case in question the person's application for repayment became a valid claim on 24 June 2009 and the refund was made on 7 July 2009 (i.e. within a period of 13 days). The period within which Revenue must make a refund without incurring an interest charge was reduced from 6 months to 93 days by section 121 of the Finance Act 2007.

No data is available on the number of repayment cases where there is no entitlement to interest in circumstances that are similar to this case.