Revenue eBrief No. 141/18
02 July 2018
Payment and receipt of interest without deduction of Income Tax
Tax and Duty Manual Part 08-03-06: Payment and receipt of interest without deduction of Income Tax - has been updated to:
- Provide clarification that where:
- withholding tax is deducted in error from an interest payment
- a full or partial refund of the withholding tax deducted may be due under a Double Taxation Agreement
then a claim for any refund of the withholding tax deducted should be made on a Form IC6.
- Include a clarification, previously given in e-Brief 43 of 2012, regarding the application of Section 246(3)(h)(I) to interest payments made to territories providing for a remittance basis of taxation.