You do not at present have to pay other Irish income tax on the interest, but you may be subject to PRSI/Health levy.
"There is no liability to PRSI where reckonable income is below €3,174".
Deposit Interest that has been subjected to DIRT is taxable under Schedule D Case IV. The DIRT deducted is deemed to cover the tax liability arising on this income in full irrespective of the marginal rate of Income Tax ordinarily paid by an individual. However individuals are still required to declare this type of income to Revenue.
Are you not required to make a payment (if one is due) when returning your form 12?
Under ROS, deposit interest is taxed at 20%. It does this by increasing your 20% tax band by the amount of your gross deposit interest (for the purpose of tax computation), in order to avoid this marginal revenue being taxed at 42%.
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