Taxes Consolidation Act, 1997 (Number 39 of 1997)

^[1]>

172C Exemption from dividend withholding tax for certain persons.

(1) Section 172B shall not apply where a company resident in the State makes a relevant distribution to an excluded person.

(2) For the purposes of this Chapter, a person shall be an excluded person in relation to a relevant distribution if the person is beneficially entitled to the relevant distribution and is—

(a) a company resident in the State which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 3 of Schedule 2A^[7]>, but this paragraph is without prejudice to the operation of section 172B(8)^<[7],

(b) a pension scheme which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 4 of Schedule 2A,

^[8]>

(ba) a qualifying fund manager or a qualifying savings manager who—

(i) is receiving the relevant distribution as income arising in respect of assets held—

(I) in the case of a qualifying fund manager, in an approved retirement fund or an approved minimum retirement fund, and

(II) in the case of a qualifying savings manager, in a special savings incentive account,

and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 4A of Schedule 2A,

^<[8]

^[11]>

(bb) a PRSA administrator who is receiving the relevant distribution as income arising in respect of PRSA assets, and has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 10 of Schedule 2A,

^<[11]

(c) a qualifying employee share ownership trust which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 5 of Schedule 2A,

(d) a collective investment undertaking which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 6 of Schedule 2A, ~~^[2]>or^<[2]~~

^[9]>

(da) a person who—

(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 189(2), subsection (2) or (3)(b) of section 189A or section 192(2), and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 6A of Schedule 2A,

^<[9]

^[12]>

(db) a unit trust to which section 731(5)(a) applies and which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 11 of Schedule 2A,

^<[12]

(e) a person who—

(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 207(1)(b), and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7 of ~~^[3]>Schedule 2A.^<[3]~~^[3]>Schedule 2A,^<[3]

^[4]>

(f) an approved body of persons which—

(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 235(2), and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7A of Schedule 2A,

(g) a designated broker who—

(i) is receiving the relevant distribution as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account, and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7B of Schedule 2A.

^<[4]

^[5]>

(3) For the purposes of subsection (2) and Schedule 2A—

(a) a collective investment undertaking which receives a relevant distribution, ~~^[10]>and^<[10]~~

(b) a designated broker who receives a relevant distribution as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account,

^[6]>

(c) a qualifying fund manager or a qualifying savings manager who receives a relevant distribution as income arising in respect of assets held—

(i) in the case of a qualifying fund manager, in an approved retirement fund or an approved minimum retirement fund, and

(ii) in the case of a qualifying savings manager, in a special savings incentive account,

and

^[13]>

(ca) a PRSA administrator who receives a relevant distribution as income arising in respect of PRSA assets,

(cb) a unit trust to which section 731(5)(a) applies which receives a relevant distribution in relation to units in that unit trust,

^<[13]

(d) the trustees of a qualifying trust (within the meaning of section 189A) who receive a relevant distribution as income arising in respect of the trust funds (within the meaning of that section),

^<[6]

shall be treated as being beneficially entitled to the relevant distribution.

^<[5]

^<[1]

[1]

[+]

Inserted by FA99 s27(a).

[2]

[-]

Deleted by FA00 s30(1)(c)(i)(I).

[3]

[-] [+]