Taxes Consolidation Act 1997 section 172K

Returns, payment and collection of dividend withholding tax

Section 172K sets out the obligations on companies and authorised withholding agents to file monthly returns of dividend withholding tax (DWT), pay over the tax deducted, and provides for assessments, interest, and appeals in relation to DWT.

• Companies and authorised withholding agents must file a DWT return with the Collector-General within 14 days of the end of each month in which relevant distributions are made, detailing the recipients, amounts, and tax deducted.
• The DWT deducted must be paid to the Collector-General within the same 14-day period on a self-assessment basis, though an inspector may raise an assessment where tax is unpaid or a return is incorrect.
• Interest accrues on unpaid DWT at a daily rate of 0.0274% from the due date until payment, and the income tax collection and recovery provisions apply equally to DWT.
• Returns must be filed electronically in a Revenue-approved format and accompanied by a declaration of correctness, with appeals against assessments made to the Appeal Commissioners within 30 days.