Dividend income tax

bettyswollocks

I would just like to point out that Revenue are not that clued in on double taxation agreements that are in place, regarding the treatment of foreign dividend income. I got 3 different assessments from them earlier this year on income received from a French company. I literally had to fight them to get any refund/allowance on tax already deducted at source. My accountant is also a bit lacking, not knowing much about DWT; he also doesnt have a mobile phone or a PC!

Also, Taxback have a dividend refund calculator on their website... its not correct, shows that you can get a 10% refund through them. It should be 15% (30% minus 15%)/

Alan Shore

On the basis that your accountant does not have a PC I assume that ROS was not used.

Was the foreign dividend included in the correct box on the Form 11 section 314 (b) (i) with the tax deducted in section 314 (b) (ii)

The foreign div in included in the computation as ordinary income, the effective tax rate is then computed. The net amount of the foreign dividend is then regrossed at the effective Irish rate with double taxation relief for the effective tax rate. There is no refund. If the return was correctly completed then it's a processing issue.

You are correct the average person answering the phone will not understand the correct application of DTA so won't be able to check that the revised notice is correct.

There is also the added complication where the is Irish tax on encashment.