TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Professional Services Withholding Tax Credit for Partnerships

In eBrief No. 34/13 Revenue advises that where a relevant payment is made to a partnership the payment and attaching PSWT deducted is to be apportioned between all of the partners. It is partners and not the partnership that is entitled to claim the PSWT credit where due. This follows amendments made by Finance Act 2013 to the legislation at Part 18 Ch 1 TCA 1997 which provides that where a professional service is provided by a partnership then the relevant payment can be made to the partnership or to the individual/practitioner who provided the professional service. Further information is set out in eBrief No. 34/13 which is published on here.