Deduction of overseas and Irish tax on Euro dividend

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Bluefin

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Quick question in relation to taxes paid on Euro dividends (French & Germany company)

15% foreign tax deducted at source
20% Irish tax deducted at source by stock brokers

Submitted return to revenue... I received no increases in my tax credits for 35% of tax already paid.

Is this correct?
 
It is not clear who is deducting the foreign dividend withholding tax (DWT) - your Irish based broker?

French DWT is now levied at 12.8% - so 15% is too high
German DWT is capped at 15% - but is higher than this usually

Are you talking about DWT and Irish tax deducted in 2020 or 2021?

I received a dividend from IRES recently in my Degiro account and 25% DWT was deducted - in line with Irish tax legislation
 
Talking about 2020.

Irish broker (Davy)..

German Company a total of 41% tax deducted

French Company a total of 42% tax deducted

No credit applied to my statement of liability for these deduction..

DWT applied to the US equities (15%).. Appeared on my statement of liability 2020

no credit for 20% irish tax deducted from US equities.
 
Did you file a Form 11?

I don't think broker file a return for you - you have to do it yourself
 
France deducts 12.8% as DWT - you get a credit for some or all of this. How much you get depends on you Irish Effective Tax Rate
Germany deducts 26.4% but are limited to 15% by the Double Taxation treaty. Again you get a credit for 15%. The other 11.4% can be reclaimed from the Germans
 
In reality the excess tax should not be deducted and relief should be given at source. A lot of the Irish stockbroking firms don't enable their clients to claim the treaty rate of WHT (normally 15%). In theory you can claim it back but you'll need a dividend voucher showing the tax deducted. I haven't seen any claims like this in many years and it may be more hassle that it is worth. I'm not sure what stockbrokers in other countries and whether they let their clients be subject to the higher rate of WHT. I think it is, or perhaps was, 35% in Switzerland.
 
I have claimed back DWT from the French and the Germans - lots of standardised paperwork but not difficult.

But it depends on the amount to b reclaimed as to whether it is worth it. Currently can't be bothered to reclaim € 15 per annum from Frankfurt :)
 
Hi jpd,

Approx. 1.5k needs to be reclaimed.

If you could send on any info (France & Germany) it would be very much appreciated

Thanks
 
France:
They are entitled to 12.8% since 2018, so if the broker deducted more than you can reclaim it - you could try to get it back from the broker especially if it is for recent years. Otherwise, there is a form 5001 on the French Tax site to reclaim but not updated since 2018 when the amount changed to 12.8% https://www.impots.gouv.fr/portail/files/formulaires/5001-sd/2018/5001-sd_2281.pdf

Germany
See here https://www.bzst.de/EN/Businesses/C...efund_procedure_pursuant_50d_1_estg_node.html
 
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