Revenue has published a new manual providing guidance on the new online Non-resident Landlord Withholding Tax (NLWT) system. This system will be operational from 1 July 2023.
Finance Act 2022 introduced key changes to the withholding tax provisions for non-resident landlords. Whilst the withholding tax requirement has been a long-standing albeit much maligned feature of Irish tax legislation, collection agents or tenants paying directly to landlords are no longer chargeable persons.
The new NLWT system will enable tenants or collection agents to make Rental Notifications when making payments to the non-resident landlord. The notification and accompanying payment need to be submitted within 21 days of the rental payment.
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