US Dividend witholding tax

[bstop]

I have shares in Seimens which are subject to USA. witholding tax
@ 21.1% and then Irish witholding tax @ 20%.
I am resident in Ireland. Am I entitled to a refund of the USA. tax?
If so how would I reclaim this?

 

[jpd]

Siemens are a German company and the withholding tax is made up of

German Dividend Withholding Tax of 20% and a German Solidarity surcharge of 1.1%.

In relation to a refund, that depends on the existence of a double taxation agreement. If you are an Irish resident,then you can reclaim 5% of the 20% back from the German Tax authorities.

You will be liable to Irish Income Tax at 20% or 42% but the German Tax of 15% can be offset against this - I don't know whether the surcharge of 1.1% can be - ask the Revenue.

Hope this helps.

 

[bstop]

Thanks JPD,
This answer is very helpful.