Revenue Precedent

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Revenue Precedents

Double Taxation Conventions over-ride the DIRT provisions which preclude repayment of DIRT except in certain circumstances. Where deposit held in trust for non-resident such that the non resident had an absolute interest in the deposit, the interest retains its character as relevant interest when paid to her by the trustee. IT92050

Whether deposit held in the name of the EU commission is a relevant deposit within the meaning of section 256 TCA 1997? Deposit is not a relevant deposit, in view of the EC accession treaty and the protocol on privileges and immunities of the European community. IT932012

Whether notification of change of residence necessary to make a deposit in relation to which a non-resident declaration was completed a relevant deposit? No; where the person who is beneficially entitled to the interest becomes ordinarily resident (now resident) in the State, the deposit automatically becomes a relevant deposit, although we might not seek to penalise a relevant deposit taker who continued to treat such a deposit as not a relevant deposit in good faith. IT922026