Brendan Burgess
Founder
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Dividends paid on the Aryzta shares will be subject to Swiss withholding tax.
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The current Swiss dividend withholding tax rate is 35%. This will be levied on any dividends or distributions made by Aryzta.
From January 2011, dividends paid from profits will be exempt from withholding tax.
For dividends paid next year, Irish tax resident investors may be entitled to a partial refund of the dividend withholding tax under the terms of the Irish Switzerland Double Taxation Convention.
Individual Irish tax resident shareholders are subject to Irish income tax on the gross amount of dividend received. This is 65% of the declared dividend, plus what is refunded back under the double taxation agreement.
Irish investors will also have to pay the health levy of 2%, depending on amount of dividend and they may also have to pay PRSI.
Individual Irish tax resident shareholders are subject to Irish income tax on the gross amount of dividend received. This is 65% of the declared dividend, plus what is refunded back under the double taxation agreement.
Depending on your personal circumstances, you may be able to secure a tax credit in Ireland for the remaining 15% Swiss withholding tax.
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