Is Class K not for politicians/public office holders, judges etc?
Withholding Tax - Foreign Deposits
- Thread starter Freelance
- Start date
Yes, but it also applies to most people with earnings at class A, B, or D. They will be class K on bank interest.
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I’m unclear on this. Can you expand on how you see this operating and who you see it applying to please? Also, what €5,000 limit are you referring to.
Cooler_box
Registered User
- Messages
- 100
This might be coming a bit late but may serve you for the next time. Its dead easy to get a letter of residence from Revenue directly or download it if you are registered for 'My Account' on the Revenue website. Hope this helps.I'm kind of miffed I missed the BFF offer on Raisin with no withholding tax.
Trying to get a letter of residence from revenue, you'd swear I was trying to correspond with the pope.
Plus the revenue office locally no longer has a reception desk.
Cooler_box
Registered User
- Messages
- 100
It is if the WHT is more than the 15% (max) you can offset against the 33% Irish DIRT and you want to reclaim it. Hope you have the language skills to communicate with the country you'll be claiming it from! Best to stick with the investments that don't deduct WHT as you'll only have the Irish DIRT to contend with.
I really don't understand this at all.
I had a deposit with blue Or bank via Raisin in 2024. It has since matured and I closed the a/c. Blue Or bank deducted 20% witholding tax.
I understand Revenue will only give a credit for 15% when I file Form 11.
How do I go about seeking a refund from BlueOr bank for the remaining 5%?
I did not obtain a tax residence Form from Revenue.
Many thanks for any assistance.
I had a deposit with blue Or bank via Raisin in 2024. It has since matured and I closed the a/c. Blue Or bank deducted 20% witholding tax.
I understand Revenue will only give a credit for 15% when I file Form 11.
How do I go about seeking a refund from BlueOr bank for the remaining 5%?
I did not obtain a tax residence Form from Revenue.
Many thanks for any assistance.
There's an explantion about this on the Raisin website..https://help.raisin.ie/hc/en-gb/articles/22952901534610-How-to-claim-a-withholding-tax-refund-from-the-Latvian-State-Revenue-Service-VID
Any use?
Raisin Bank - Banco Português de Gestão
I am thinking about opening an account with the above mentioned bank because of 2 reasons, the interest rate and the fact that the account can terminated prematurely at any time. The withholding tax is 28%. I assume if you are a non resident you do not have to pay this tax? If so how do you make...
www.askaboutmoney.com
The following happens.
If you invest 1000 euro @ for example 4% in the Portuguese Bank you get 40 euro interest after 1 year.
If you completed the Portuguese tax documents you will have 13% Portuguese witholding tax deducted at source.
So you receive net interest of 34.80 euro to your bank account
If you didn't send the Portuguese tax documents back you will have 28% Portuguese witholding tax deducted at source.
So you receive net interest of 28.80 euro to your bank account.
You are required by Irish Revenue to declare your gross foreign deposit interest. In both cases this is 40 euro.
You are required to then state how much foreign withholding tax was deducted at source.
Irish Revenue will then give a tax credits to a maximum of 15% foreign withholding tax.
You then pay 33% Irish dirt tax on the 40 euro interest
So 13.20 Irish dirt.
If you paid 28% Portuguese tax this is reduced to 13% after receiving the Irish revenue tax credits. So you pay 5.20 euro extra foreign tax.
If you paid 13% Portuguese tax this is reduced to 0% after receiving the Irish revenue tax credits. So you pay no extra foreign tax.
The person who returned the Portuguese tax documents finally gets net interest of 26.80 euro.
The person who didn't return the Portuguese documents finally gets net interest of 21.60 euro.
If you have deposits in other EU countries which don't deduct witholding tax this might occur...
Post in thread 'Portugal Deposit Tax'
If you invest 1000 euro @ for example 4% in the Portuguese Bank you get 40 euro interest after 1 year.
If you completed the Portuguese tax documents you will have 13% Portuguese witholding tax deducted at source.
So you receive net interest of 34.80 euro to your bank account
If you didn't send the Portuguese tax documents back you will have 28% Portuguese witholding tax deducted at source.
So you receive net interest of 28.80 euro to your bank account.
You are required by Irish Revenue to declare your gross foreign deposit interest. In both cases this is 40 euro.
You are required to then state how much foreign withholding tax was deducted at source.
Irish Revenue will then give a tax credits to a maximum of 15% foreign withholding tax.
You then pay 33% Irish dirt tax on the 40 euro interest
So 13.20 Irish dirt.
If you paid 28% Portuguese tax this is reduced to 13% after receiving the Irish revenue tax credits. So you pay 5.20 euro extra foreign tax.
If you paid 13% Portuguese tax this is reduced to 0% after receiving the Irish revenue tax credits. So you pay no extra foreign tax.
The person who returned the Portuguese tax documents finally gets net interest of 26.80 euro.
The person who didn't return the Portuguese documents finally gets net interest of 21.60 euro.
If you have deposits in other EU countries which don't deduct witholding tax this might occur...
Post in thread 'Portugal Deposit Tax'
Portugal Deposit Tax
Hi, I have contacted both the revenue (advised to contact the IRS in Portugal) and raisin for advice but neither were of any assistance. A deposit on raisin matured and a withholding tax of c. 38% has been applied to the interest. Raisin in fairness provided me with the relevant forms to fill...
www.askaboutmoney.com
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