Taxes Consolidation Act 1997 Schedule 2C paragraph 7

Declarations of Credit Unions

Schedule 2C paragraph 7 sets out the requirements for a declaration by a credit union to an Irish Real Estate Fund (IREF) so that withholding tax does not apply to payments made to that credit union.

• A credit union that holds units in an IREF may make a written declaration to the fund to claim exemption from IREF withholding tax on relevant payments.
• The declaration must be made and signed by the credit union itself, in a form prescribed or authorised by the Revenue Commissioners, and must include the credit union's name, address and Tax Identification Number (TIN).
• The declaration must confirm that, at the time it is made, the person entitled to the units is a credit union within the meaning of the legislation.
• The Revenue Commissioners may require any additional information they consider reasonably necessary for the purposes of the IREF regime.