EU Deposit Interest - Revenue Reporting

Ok, looks like you have time to waste and just looking for an argument. You're wrong and I'll leave it at that.

Not at all. I tried to assist you and you reacted badly.

No wonder you've since deleted your comments.

@ACER10 Thanks for the link. I will certainly use it when filling out the form.
@Freelance As you suggested I have emailed Revenue and will wait for a reply. Thanks.

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liam bourke said:

how is the dirt tax collected if you are paye?

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Many/most deposit accounts deduct DIRT at source.
Where that's not the case the account holder needs to pay it.
The PAYE status of the account holder is irrelevant to the tax liability.

liam bourke said:

how is the dirt tax collected if you are paye?

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Ae @ClubMan says, for almost all deposit interest paid by Irish Banks etc DIRT will be deducted at source so you won't have to do anything.

For overseas deposit interest, the onus is on you to declare the interest and pay the DIRT. You do this by completing either Revenue Form 12 or Form 11 after the year end, entering details of the deposit interest received (there are separate entries for EU deposit interest and for all other foreign deposit interest). After you submit this you will receive a balancing statement showing how much you owe. The rate will be either 33% or 40%, and in some instances you will also be liable for PRSI @ 4.x%.

Also be prepared to provide evidence of the foreign interest you earned (and any tax deductions that a bank might have made).

Account statements or end of year tax declaration will do but revenue has started asking questions and asking for evidence.

Received our 2024 balancing statement, deposit interest treated as income!



Had submitted it under the following category, which I understood was correct?



How much hassle is this going to be to rectify?

Which line is it on? You have "Deposit Interest Received" which is correct.

Go to the top and look for "Charged as follows @ 33%"

Corola said:

Go to the top and look for "Charged as follows @ 33%"

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Thank you, it was right!