EU Deposit Interest - Revenue Reporting

[Bradipo]

Thank you - I will attach that, and a few other links that were put here if I can find again. Revenue person was very definite that EU interest would be charged as INCOME, just like stocks, crypto etc. Super nice person. Not at all condescending. This phone call was as a result of sending email to Mr. Cody.

I would prefer to deal with a rude person who knows about their work rather than someone who is polite but lacks knowledge in their field. After all, these people are paid using our money and yet they don't even know the basics of Irish tax laws. To be honest, ChatGPT could probably perform better in this regard.
This from gov.ie and it is very clear

 

[Stationfire]

After 38 days, myenquiries, phone calls they finally changed it from foreign income and charged 33%.
They have not explained why they mishandled it (I asked more than once, this was ignored).
I still have a different issue which they mishandled and has not been addressed - this is for simple PAYE tax, hardly a complex task for them.
It took multiple communications to them.
The service level is shocking, and I base this on multiple interactions in the last 6 months where I was more than patient.

 

[Lightning]

I decided 2 weeks ago to do my 2023 tax return and see what happens with EU Deposit Interest.

I still can't even start. The "amend" link and the 2023 return is gone from My Account. 2021 and 2022 is still there.

2 phone calls to Revenue and they cannot explain why. They suspect that it is an IT issue and are investigating with IT.

I logged a ticket via My Enquiries and it was closed as "resolved" even though it was not resolved. I have reopened with more screenprints.

And this is all before a likely battle with EU Deposit Interest.

Another bad experience to add to the comments/experiences posted in this thread about Revenue. Awful service.

 

[PIC16f84]

After several calls and back and forth in myenquiries, do you think they have finally fix it? Well not quite.
Now the interest show as interest, so far so good and is taxed at 33%, great BUT that same amount is shown in Panel 4 Tax credits. That's correct, revenue has moved from charging me 52% of my declared interest to refund me 33% of interest declared as a tax credit so I'm actually getting money back instead of paying, what an utterly mess they are. Should I engage again with them or should I get the money and don't look back? Can revenue go after me in the comming years for a tax return they have incorrectly made years ago demanding interests and/or a fee on top? I'm kind of sick of this situation and having to chase revenue around and going through all kind of hoops and loops just to pay my fecking taxes is beyond me

 

[PIC16f84]

I decided 2 weeks ago to do my 2023 tax return and see what happens with EU Deposit Interest.

I still can't even start. The "amend" link and the 2023 return is gone from My Account. 2021 and 2022 is still there.

2 phone calls to Revenue and they cannot explain why. They suspect that it is an IT issue and are investigating with IT.

I logged a ticket via My Enquiries and it was closed as "resolved" even though it was not resolved. I have reopened with more screenprints.

And this is all before a likely battle with EU Deposit Interest.

Another bad experience to add to the comments/experiences posted in this thread about Revenue. Awful service.

They have the mother of all clusterfucks on their systems at the moment. Not sure if they have outsourced to a third company or what it is but they told my by phone they were inundated with multiple people complaining about this EU deposits situation. And yes, they tend to close your inquire as complete, just reply on it and it should open again and call and pester them as much as you can. I called them multiple times at the phone showing on https://www.revenue.ie/en/contact-us/customer-service-contact/paye-jobs-and-pensions-helpline.aspx after introducing your pps number, unfortunately have been proved to be the only way to make your inquire progress

 

[skrooge]

After several calls and back and forth in myenquiries, do you think they have finally fix it? Well not quite.
Now the interest show as interest, so far so good and is taxed at 33%, great BUT that same amount is shown in Panel 4 Tax cretits. That's correct, revenue has moved from charging me 52% of my declared interest to return me 33% of interest as a tax credit so I'm actually getting 33% of interest back instead of paying, what an utterly mess they are. Should I engage again with them or should I get the money and run? Can revenue chase me for a tax return they have incorrectly made years ago demanding interests and/or a fee on top? I'm kind of sick of this situation and having to chase revenue and go through all kind of hoops and loops just to pay my fecking taxes is beyond me

If I were you I'd stick it on deposit with the likes of Raisin ... Let the perpetual money machine role on!