Paying DIRT on foreign savings account

chewchew

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Hi. I earned ~€1000 interest for 2012 on a savings account I have with a German bank. I'm aware that I owe DIRT on this but haven't gotten around to paying it yet. How does one go about paying it, and is there a deadline by which it has to be paid?

Also, I initially opened the account in December 2011, I earned about €60 interest for that year but never thought bothered to go about declaring it to revenue because it was such a small amount. I'm slightly afraid now that they might penalise me for that when I approach them about paying my 2012 DIRT tax?
 
Thanks Joe. Would I have been meant to pay DIRT on the 2011 interest by last October though?
 
There have been various discussions on the obligations to pay preliminary tax. I'm of the view that if you have not filed a nil declaration or paid any tax that the liability fell due last October. Its technically not correct to refer to it as DIRT Deposit Interest Retention Tax is a withholding tax its not a tax in itself.
The deposit interest will be taxed at rate applicable 27% to 31.12.11 and 30% after that.
 
@chewchew I assume you earn most of your income under Schedule E?

No, just opened a savings account in Germany at the end of 2011 because at the time there was a lot of talk about the Euro going under. I'm still a bit confused about what will happen with the few Euros of interest I owe for 2011. I really hope they will just take the ~€15 or so I owe and not class me as a tax evader :confused:
 
What I meant was - what is your main source of income - and is it taxed here under PAYE?
 
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