1091 Annexation of statements to interest warrants, etc

Summary

Every warrant, cheque or other order in respect of any payment of interest from which the paying company is entitled to deduct income tax must be accompanied by a statement showing details of the gross payment, the amount and the rate of tax and the net amount paid.

Details

(1) In this section, “company” means a company within the meaning of the Companies Act, 1963 and a company created by letters patent or by statute.

(2) Every warrant, cheque or other order in respect of any payment of interest from which the paying company is entitled to deduct income tax must be accompanied by a statement showing —

• details of the gross payment,
• the rate and amount of tax, and
• the net amount actually paid.

The section does not apply to distributions within the meaning of the Corporation Tax Acts.

(3) The penalty for failure to comply with this section is €200 per contravention subject to a maximum of €2,000 in respect of any one payment of interest.

Relevant Date: Finance Act 2021