Revenue has updated its Tax and Duty Manual on the payment and receipt of interest and royalties without deduction of income tax.
The guidance has been updated as follows:
- It now provides that a Certificate of Residence [Form 6166] is acceptable in lieu of having the self-certifications forms certified for residents of the United States of America.
- The guidance now sets out the procedures to be followed when completing a Form CT1 or Form 11 for 2021 where taxpayers withhold tax at the double tax agreement (DTA) rate from interest or royalties paid to residents of a treaty partner, rather than withhold and remit an amount of tax that is subsequently refundable under that DTA.