TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Obligation to obtain tax numbers put on hold with DWT real-time reporting

Tax and Duty Manual Part 06-08a-01 – Dividend Withholding Tax: Details of Scheme – has been updated to clarify that the obligation in section 172BA TCA 1997 to obtain tax reference numbers in respect of relevant distributions made on or after 1 January 2021 is suspended due to the deferral of DWT real-time reporting.

Section 172BA was introduced by Finance Act 2019 and places an obligation on companies and withholding agents to obtain and keep a record of tax reference numbers of persons beneficially entitled to relevant distributions, in advance of making such a distribution. The obligation applies in respect of relevant distributions made on or after 1 January 2021. However, following the announcement in May 2020 to postpone the introduction of DWT real-time reporting, the obligation to obtain tax reference numbers is currently suspended. Further information is available in eBrief 224/20.