More than €400m in overpaid tax refunded by Revenue

New figures from the agency show more than 80% of returns filed resulted in an overpayment of tax

The statistics published today also show that a further €389m may have been overpaid during 2024, with Revenue launching a public information campaign to raise awareness among PAYE taxpayers about the range of tax credits and reliefs available

Refunds of more than €400m have been issued by Revenue to people who overpaid tax in 2024, new figures from the agency show. 

Publishing statistics on 2024 PAYE Income Tax Returns filed so far this year, Revenue found that more than 80% of returns resulted in an overpayment of tax, reflecting around 444,000 taxpayers. 

Meanwhile, almost 12% of the 2024 returns processed to date this year resulted in an underpayment of tax, reflecting around 66,000 people, with Revenue saying that it was working with those taxpayers to collect the underpayment by reducing their future tax credits, over a period of four years. 

The statistics published today also show that a further €389m may have been overpaid during 2024, with Revenue launching a public information campaign to raise awareness among PAYE taxpayers about the range of tax credits and reliefs available, and how they can be claimed.

“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," said Dan Oosthuizen from Revenue’s PAYE Services.

"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 added.

"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.”