Section 141 Dividends

[paddyb]

I just bought some Kingspan shares and I received a letter giving the option to elect to receive dividends, at certain times, in accordance with Section 141 of the Irish Tax Consolidation Act 1997. The letter goes on to say that S 141 exempts from Irish Income Tax certain dividend income paid in respect of eligible shares within the meaning of the section.

Seems like a no-brainer to elect to receive exempt dividends and yet you have to opt in rather than opt out.

Has anybody come across this before?

 

[Domo]

I think you would need to be able to read all of the small print - what are you giving up in order to receive these dividends?

Yes, in certain circumstances dividend income arising from certain activities may fall under S141 and be exempt from tax.