Revenue has updated the Tax and Duty Manual regarding the payment and receipt of interest and royalties without deduction of tax. The guidance has been updated:
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in respect of the application of interest withholding tax to interest paid to Irish partnerships and foreign tax transparent entities (section 5.3), and
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refers to the European Stability Mechanism (ESM) and the ESM acting through a subsidiary body or sub-entity (section 8).
In addition, instructions on how to report availing of the practice in section 9 for Form CT1 2021 and Form 11 2021 have been deleted.