If you read the above you will see that all references are made to interest and not capital.
1) If you are non-resident in Ireland, and are receiving interest on Irish deposits, you can opt to receive the interest gross, without deduction of DIRT.
2) If you are resident elsewhere in the EU, the tax authorities there will be notified, and you will pay any relevant tax in the country in which you are resident.
3) If you are resident outside the EU, you would have to look at the tax treaty applicable to your country of residence.
Worksop - I believe you meant to say that Ulster Bank will withhold DIRT if you can prove non residency. The process is quite straightforward. This will mean interest will be paid gross with no DIRT deducted.
Can you nominate to have your interest posted abroad to a child or similar and avail of the interest DIRT free? The interest will be going to a NON resident.
Can you nominate to have your interest posted abroad to a child or similar and avail of the interest DIRT free? The interest will be going to a NON resident.
No, the account needs to be in the name of a non resident.
Does it specifically say this somewhere? I thought that it said,
Interest on deposits beneficially owned by non-residents,
If the interest is owned by the non resident does that not qualify.
If you are non-resident in Ireland, and are receiving interest on Irish deposits, you can opt to receive the interest gross, without deduction of DIRT.
If you are resident elsewhere in the EU, the tax authorities there will be notified, and you will pay any relevant tax in the country in which you are resident.
If you are resident outside the EU, you would have to look at the tax treaty applicable to your country of residence.
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