Finance (No. 2) Act 2023 · Updated to 29 Dec 2023 · Chapter III · Amendments to the Real Property Gains Tax Act 1976
40. Amendment of section 15
Feedback & supportSection 15 of the principal Act is amended—
by inserting after subsection (1) the following subsection:
“(1a) Where the Director General discovers that the whole or part of any tax repaid to a person, otherwise than in consequence of an agreement with respect to an assessment pursuant to subsection 101(2) of the Income Tax Act 1967 or in consequence of an assessment having been determined on appeal, has been repaid by mistake whether of fact or law, the
Director General may make an assessment in respect of that person in the amount of that tax or that part of that tax, as the case may be:
Provided that no such assessment shall be made—
if the repayment was in fact made on the basis of, or in accordance with, the practice of the
Director General generally prevailing at the time when the repayment was made; or
in respect of any tax, more than five years after the tax has been repaid.”; and
in subsection (2), by substituting for the words “or wilful default” wherever appearing the words “, wilful default or negligence”.