Withholding tax on raisin accounts

[liam bourke]

Can somebody explain what is the withholding tax on raisin accounts?

 

[jpd]

Most foreign countries, including EU countries, require banks to withhold tax when paying interest

IIf the country in question has a double taxation treaty with Ireland, this tax is usually limited to 15%
If the withheld tax is more than 15% then the excess can be claimed back from the foreign country

The un-reclaimable withheld tax (usually 15%) is allowed as a credit against the Irish DIRT tax due on the interest earned

 

[ClubMan]

Can somebody explain what is the withholding tax on raisin accounts?

This issue is covered in several threads about Raisin and associated banks already.