The Minister for Finance, Michael McGrath TD, has signed the commencement order which brings the new non-resident landlord withholding tax (NLWT) system from 1 July 2023. As previously reported, the system provides for tenants and collection agents of non-resident landlords to deduct withholding tax at 20 percent and remit it to Revenue, along with a rental notification, using the NLWT system.
This amendment will relieve the collection agent from being chargeable to tax in Ireland for such income of the non-resident landlord, where the landlord chooses this option. Cróna Clohisey, Tax and Public Policy Lead with the Institute spoke about the new system on RTE Radio One Morning Ireland and RTE News at One. Comments also appeared in print.
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