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Divined Withholding Tax

OmegaRed · 2017-08-21 13:45:50

Sorry if this seems like a stupid question. I recently received my first divined in my TD investment account. The amount was smaller than I thought but when I checked it looks like a 15% Withholding Tax was applied as they are USD shares, which is fine. Am I entitled to this 15% back? If not, do I get taxed on 100% of the…

21-08-2017 1:45pm

#1

OmegaRed

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Sorry if this seems like a stupid question. I recently received my first divined in my TD investment account. The amount was smaller than I thought but when I checked it looks like a 15% Withholding Tax was applied as they are USD shares, which is fine.
Am I entitled to this 15% back?
If not, do I get taxed on 100% of the dividend or just the remaining 85%? (Do I declare the 100% or the 85% to revenue?)
Thanks

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#2 21-08-2017 5:17pm

topper_harley2

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Read last few posts on http://www.boards.ie/vbulletin/showthread.php?t=2057774667, same question answered, again.

Dividends on US Shares
There is a 30% with-holding tax on US shares for non-US residents, but if you complete a W8-Ben form for your stockbroker, a lower 15% with-holding tax will apply. Your therefore receive 85% of the dividend. You are assessed on the full 100% and the 15% withheld by the US Revenue is deemed as tax already paid by you in accounting for tax due to the Irish Revenue, and for anyone on a marginal tax rate above 15%, then the balance is due to the Irish Revenue. The 15% US With-holding tax is non-refundable so pension accounts cannot reclaim it.

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