Tax on deposit interest from abroad ?

Interest from accounts in other European Union (EU) Member States and from non-EU countries

If you receive interest from an account in another EU Member State, you must pay the current DIRT rate on the interest income.

You must include the details of this on your annual tax return.

The income will be subject to a higher rate of 40% tax if it is not returned on time.

Deposit interest from non-EU countries will be taxed at the current DIRT rate if you:

a) are a standard rate taxpayer

and

b)have made a timely return.

If you are a higher rate taxpayer or you have not made a timely return, a DIRT rate of 40% will apply.

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie