On 6 April 2018, Irish Revenue has published E-Brief regarding updated guidance on the dividend withholding tax scheme.
Dividend Withholding Tax (DWT) – details of scheme:
Revenue Tax and Duty Manual Part 06-08A-01, which deals with the operation of Dividend Withholding Tax (DWT) has been updated. The changes are as follows:
- Emphasis has been placed on the fact that DWT returns must be made in electronic format in keeping with the relevant legislation (s172K, TCA 1997).
- The list of entities included in s172A (1) (a) TCA 1997, the payment to which is not a ‘relevant distribution’, has been revised to reflect the legislation.
- The penalties set out in s172I in respect of failure to provide certain statements in writing have been amended to show the relevant amounts as stated in s152(2) TCA 1997.
