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

Payment and Receipt of Interest without Deduction of Income Tax

Revenue guidance on when interest payments can be paid without deduction of withholding tax, as otherwise required by section 246 of the Taxes Consolidation Act 1997 (TCA 1997), has been updated to confirm that no withholding tax need be operated on interest payments to the European Investment Bank.

The guidance also covers when Revenue will use its powers under section 246(3) (d) TCA 1997 to issue authorisations to companies to pay interest without the deduction of withholding tax in cases where a bank has assigned or novated a loan to a non-banking entity.