So from the deposits best buy thread Wise are paying 1.79% on balances over €68.
From my reading of their site they are calling it 'Variable Cashback'. Its paid net of 30% Belgian withholding tax.
My question is if 'Cashback' is then chargeable or a perk of a system? If its chargeable does it qualify as Interest (and subject to additional DIRT (or other tax) on top of the Belgian withholding tax)?
I'm thinking in terms of a comparison to (say PTSB) paying a cashback on one of their bank account products for using debit cards or other credit card providers paying a cashback also (i believe one of the AIB platinum cards pays a cashback of a small amount).
From my reading of their site they are calling it 'Variable Cashback'. Its paid net of 30% Belgian withholding tax.
My question is if 'Cashback' is then chargeable or a perk of a system? If its chargeable does it qualify as Interest (and subject to additional DIRT (or other tax) on top of the Belgian withholding tax)?
I'm thinking in terms of a comparison to (say PTSB) paying a cashback on one of their bank account products for using debit cards or other credit card providers paying a cashback also (i believe one of the AIB platinum cards pays a cashback of a small amount).