15. Tax refunds to be set off against the tax arrears written off

Any tax refund pending payment on the date of commencement of this Act duly claimed by a taxpayer, under the provisions of any law specified in Schedule I, Schedule

III or Schedule IV hereto, for any period ending prior to

December 31, 2020 shall be set off against any tax arrears written off under the provisions of section 11 or 12:

Provided however, the provisions of this section shall have no application to any penalty imposed by law in a period subsequent to the period in which the refund is due.