Ireland Tax Agency Issues Guidance on Individual Income Taxation of Foreign-Sourced Deposit Interest Income

The Irish Revenue Commissioners June 17 issued Revenue eBrief No. 120/25, providing guidance for Irish resident individuals on the income taxation of foreign-sourced deposit interest income. Topics covered include: 1) the taxation of the income based on the location of the financial institution and deposit, and whether the institution deducted deposit interest retention tax (DIRT); 2) filing and payment obligations for the income from accounts held inside or outside the EU and European Economic Area (EEA); 3) the 33 percent DIRT rate for EU or EEA-sourced deposit interest income; 4) the higher of the 33 percent DIRT rate or the ...