Revenue Note for Guidance

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Revenue Note for Guidance

CHAPTER 2

Foreign Dividends

Overview

Chapter 2 of Part 4 provides for the collection of income tax at source by persons in the State entrusted with dividends of a non-resident body for payment to another person in the State. The assessment and charge to income tax is made under Schedule D, and the same procedure applies for the deduction of tax at source as applies to the deduction of tax under Schedule C. The Chapter also provides for the tax treatment of interest from quoted Eurobonds.

60 Interpretation (Chapter 2)

The section provides for the interpretation of the Chapter and defines, in particular, the term “dividends to which this Chapter applies” (that is, foreign dividends) as any interest, dividend or other annual payment payable out of or in respect of stocks, shares or securities of any non-resident body of persons. Foreign dividends, however, does not include payments payable out of taxed or untaxed income which has suffered tax deducted at source under section 237 or 238.

Relevant Date: Finance Act 2019