Revenue has stated that in limited circumstances where interest payments are deemed to be distributions but no dividend withhold tax (DWT) is required to be withheld, to relieve the administrative burden an annual DWT return will be accepted rather than a normal monthly return.

Requests to submit an annual DWT return should be send to the DWT unit in Nenagh, Co Tipperary along with supporting information about the interest payment and corporate group structure among other details. Taxpayers must continue to file monthly returns until Revenue agree to accept an annual DWT return. More details can be found in Revenue’s eBrief on here.