Revenue Tax Briefing

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Revenue Tax Briefing Issue 56, July 2004

Professional Services Withholding Tax Credit

This is a reminder to practitioners that when claiming credit for PSWT on either the Form 11 or the Form CT1, the full amount of PSWT credit due for the year should be entered, even if any interim refunds/claim has already been made. The amount of any interim refund will automatically be deducted from the amount claimed. Accordingly if you only enter the amount of credit now due (that is the amount less the interim refund/claim) the assessment will show a reduced credit, if any.


PSWT deducted in y.e. 30/09/2003


Interim refund received August 2003

€ 3,500

Remaining credit available for offset
against 2003 liability


Amount entered in 2003 Form 11


In support of the claim for PSWT you must have Forms F45/F43 for all of the tax withheld. These forms should not be submitted with the Form 11/CT1 but must be retained by your client as they may be required at a later date for the purpose of a verification check on the claim - see Tax Briefing Issue 52.