Remember what I said in a previous post about whiplash, the same applies here!
I have already stated I cannot give you a definitive answer on your questions re TRS and that maybe you should contact [email protected] as this is not my area of expertise. However I assert again that revenue can interpret the TCA and amend how they apply them, are we in agreement in this regard ?Ok. So you don't know the answer to either of my questions. Is that fair?
"We have been in discussions with the Revenue Commissioners and any tax issues arising are being addressed directly by us. Accordingly, you do not need to take any action in this regard"
Hope that clarifies it for people affected Padraic
Hi all
In regards to the Revenue questions being raised the following is from the PTSB Redress letter and should be the same for the other lenders
"We have been in discussions with the Revenue Commissioners and any tax issues arising are being addressed directly by us. Accordingly, you do not need to take any action in this regard"
Hope that clarifies it for people affected Padraic
There you have it Sarenco, look likes the banks are taking any hit in this regard, you got your answer and I got mine, that being that you are not man enough to admit revenue can interpret the TCA and apply same and that we are not hamstrung by legislation as you contend.
No, unfortunately I didn't get answers to either of my specific questions.
In case you misinterpreted my questions, I simply asked whether you knew (given your position) whether Revenue had taken a position on any potential income tax liability on redress payments from AIB or whether they would seek to recover any TRS overpayments.
You very clearly don't know the answer to either of my questions. Again, that's obviously fine.
Of course Revenue can form their own view on the correct interpretation of any legislative provision. So can everybody else! However, only the Courts can give a definitive interpretation. The idea that Revenue can simply ignore legislation is risible.
All we know is that PTSB told affected borrowers that they were in discussions with Revenue. Did Revenue agree not to pursue any tax liabilities that would arise as a result of the redress scheme? Did PTSB agree to meet any such tax liabilities? I've no idea and I strongly suspect you don't either.