Revenue eBrief No. 126/23

29 May 2023

Part 06-08B-01 - Technical Guidance in relation to Dividend Withholding Tax

Revenue's published guidance known as Dividend Withholding Tax (DWT) Technical Guidance Notes for Paying Companies Authorised Withholding Agents (AWAs) & Qualifying Intermediaries (QIs) is now incorporated into Tax and Duty Manual (TDM) Part 06-08B-01. While much of the content remains unchanged, a number of amendments have been made:

• The guidance on intermediaries operating through nominee companies in paragraph 6.4.5 of the new TDM (Part 06-08B-01) includes a reminder of the obligation to file a Form 21R in certain instances.
• The guidance on the treatment of PEPs, ISAs, and SIPs previously at paragraph 10.37 of the DWT Technical Guidance Notes has been removed.
• The guidance previously in paragraph 10.30 of the DWT Technical Guidance Notes on how certain entities/types of entities are dealt with for DWT purposes has been amended to remove the list of entities that was in the previous publication. A link to TDM Part 35C-00-02 (Foreign Entity Classification for Irish Tax Purposes) has been provided.
• The guidance on exemption for offshore "umbrella funds" previously at paragraph 10.39 of the DWT Technical Guidance Notes has been removed.

The last two amendments in relation to paragraphs 10.30 and 10.39 of the DWT Technical Guidance Notes apply with effect from 9 June 2023. TDM Part 35C-00-02 (Foreign Entity Classification for Irish Tax Purposes), which was published on 18 May 2023, provides guidance where there is some level of uncertainty in respect of an entity, for example whether it is regarded as "opaque" or "transparent" for tax purposes.