Article 21 - Excess Refundable Tax

1. A claim for a refund of excess Tax to which a Taxable Person is entitled shall contain such information and data as required by the Authority and be submitted through such means as specified by the Authority within 5 years from the date the Person has the right to apply for the refund.

2. Subject to its powers and obligations under the Decree-Law and this Decision, the Authority shall refund any excess Tax to the Taxable Person where it is satisfied that the Taxable Person is entitled to a refund.

3. Subject to Clause (6) of this Article where the Authority is required to refund an amount of excess Tax in accordance with Clause (2) of this Article, the refund must be made by the later of:
a. Two calendar months following the submission of the claim for a refund
b. Where the Authority undertakes an audit of the claim for a refund, within (21) twenty one days after conclusion of the audit.

4. The Authority is not obligated to refund any remaining excess Tax to the Taxable Person if less than two tax periods have passed since the end of the Tax Period in which the excess Tax arose.

5. The Authority may at its discretion refund the amount of excess Tax before the expiration of two tax periods in the following situations:
a. The Taxable Person’s Registration is cancelled;
b. The Authority is satisfied that the Taxable Person will be undertaking taxable activities in the future and that for a period of at least one year following there is likely to be excess Refundable Tax;

6. Where a Taxable Person has failed to submit a Tax Return for any Tax Period as required under the Decree-Law, the Authority may withhold any refund until such a time as the outstanding Returns have been submitted.