Revenue eBrief No. 024/20

03 February 2020

Dividend Withholding Tax Manual 06-08a-01 updated in accordance with Finance Act 2019 changes

Tax and Duty Manual 06-08A-01, which deals with Dividend Withholding Tax (DWT), has been updated. The amendments in the manual have been made to account for the changes brought in by Finance Act 2019:

  • the increase in the rate of DWT to 25%
  • the requirement that from 1 January 2021 the company or intermediary that pays the relevant distribution shall obtain and keep a record of the "tax reference number" of the person(s) beneficially entitled to the relevant distribution.

The manual has also been subject to a minor change to update the reference to the rate of interest for overdue DWT.