Revenue has updated the
Tax and Duty Manual regarding Deposit Interest Retention Tax (DIRT) exempt accounts and refund of DIRT. The updated guidance provides that interest arising on a deposit that is solely in respect of a general payment, and work-related payment if applicable, under the Mother and Baby Institutions Payment Scheme can be paid without deduction of DIRT. Payments made in respect of the Mother and Baby Institutions Payment Scheme are exempt from income tax under
section 205B TCA 1997.