Obligation to obtain tax numbers put on hold with DWT real-time reporting

Dec 21, 2020

Tax and Duty Manual Part 06-08a-01 - Dividend Withholding Tax: Details of Scheme - has been updated to clarify that the obligation in section 172BA TCA 1997 to obtain tax reference numbers in respect of relevant distributions made on or after 1 January 2021 is suspended due to the deferral of DWT real-time reporting.

Section 172BA was introduced by Finance Act 2019 and places an obligation on companies and withholding agents to obtain and keep a record of tax reference numbers of persons beneficially entitled to relevant distributions, in advance of making such a distribution. The obligation applies in respect of relevant distributions made on or after 1 January 2021. However, following the announcement in May 2020 to postpone the introduction of DWT real-time reporting, the obligation to obtain tax reference numbers is currently suspended.  See eBrief 224/20 for more information.