898M Credit for withholding tax

This Section deals with cases where tax has been withheld under the Directive by Austria, Belgium or Luxembourg or under the arrangements made with certain third countries and associated and dependent territories of the UK and the Netherlands from interest payments made to individuals. Certain Member States and other relevant territories are entitled to do this as an alternative to following the normal exchange of information rules of the Directive. The section provides that, where such tax is withheld from an interest payment to Irish residents, they will get a tax credit against their Irish tax liabilities. If the individual is exempt from tax or has a liability less than the amount deducted, a refund of the appropriate amount will be given.

Relevant Date: Finance Act 2019