(1) [deleted]
(2) [deleted]
(3) [deleted]
(4) [deleted]
(5) [deleted]
(6) [deleted]
(7) Where the amount of preliminary tax paid by a chargeable person for any chargeable period exceeds that person's tax liability for that period, the excess shall be repaid and the amount repaid shall carry interest at the rate of 0.0161 per cent, or such other rate (if any) prescribed by the Minister for Finance by regulations, for each day or part of a day for the period from the date or dates of the payment of the amount or amounts giving rise to the overpayment, as the case may require, to the date on which the repayment is made; but -
(a) interest shall not be payable under this subsection -
(i) if it amounts to less than €10, or
(ii) to the extent that the excess arises from relief provided for by section 438(4),
and
(b) income tax shall not be deductible on payment of interest under this subsection and such interest shall not be reckoned in computing income for the purposes of the Tax Act