On 10 March 2021, the Irish Revenue issued an eBrief No. 054/21 regarding updates to Tax and Duty Manual. This manual contains payment and receipt of interest and royalties without deduction of income tax. Some key points of this manual are given below:
- It provides for the introduction of a Self-Certification system, under which withholding tax on certain payments of interest and royalties is at the applicable Double Tax Agreement (DTA) rate, and
- This confirms that the Central Bank of Ireland is, for the purposes of section 246, a bank carrying on a bona fide banking business.
