EU Deposit Interest - Revenue Reporting
- Thread starter Corola
- Start date
T McGibney
Registered User
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- 7,338
Not at all. I tried to assist you and you reacted badly.
No wonder you've since deleted your comments.
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.
@Freelance As you suggested I have emailed Revenue and will wait for a reply. Thanks.
liam bourke
Registered User
- Messages
- 48
how is the dirt tax collected if you are paye?
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.
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%.
DublinTexas
Key Post author
- Messages
- 364
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.
Account statements or end of year tax declaration will do but revenue has started asking questions and asking for evidence.
Thank you, it was right!