Revenue eBrief No. 26/10 - Dividend Witholding Tax
14 April 2010
A Finance Act 2010 change has amended the procedure for certain non-resident companies receiving dividends from Irish resident companies to obtain exemption from Dividend Withholding Tax (DWT) at source. The previous requirement (i.e. to provide a tax residence and/ or auditor's certificate, along with a signed non-resident declaration form) is replaced by a self-certification system under which a qualifying non-resident company will provide a declaration to the dividend paying company or qualifying intermediary.
The declaration will be valid to the end of the 5th year after the year in which the declaration is signed. A link to the required declaration form and explanatory notes is provided in this eBrief (click here to view). The new arrangements are effective from 3 April 2010.
This eBrief also reminds practitioners of a further amendment that provides for the electronic transmission of dividend statements to all shareholders, who elect to receive vouchers in this format (currently transmission of electronic statements is allowed for payments to intermediaries only).