Patrick O'Donovan (Limerick, Fine Gael)
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292. To ask the Minister for Finance if a tax refund will be issued in respect of a person (details supplied) in County Wexford; the options that are available to that person; and if he will make a statement on the matter. [21283/15]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the person concerned is registered for income tax and Relevant Contracts Tax (RCT). When the person concerned first registered for RCT he was subject to a deduction rate of 20% and this continued until April of this year when the deduction rate was revised to 0% because of his then established compliance record. RCT deductions are treated as a down-payment for income tax due for the period in which it is deducted or there is the option to have RCT offset against VAT or PAYE/PRSI.

In this instance €318 of an overall RCT credit of €2,268 has been offset against an existing VAT liability that had been paid and a refund of the payment of €318 will issue to the person concerned shortly. The balance of the RCT credit of  €1,948 is available for offset against any further tax liability that arises in 2015.  When the income tax liability for 2015 is determined, i.e. on the filing of the return for that year in 2016, any excess RCT for 2015 at that stage will be refunded.