Taxes Consolidation Act 1997 section 20

Schedule F

Section 20 establishes Schedule F, the income tax charge on dividends and other distributions made by Irish resident companies.

• Schedule F is the income tax schedule under which dividends and other distributions from Irish resident companies are taxed.
• The term "distribution" is broadly defined and covers not only ordinary dividends but also other ways in which a company's profits may be passed to shareholders, including scrip dividends (shares issued in lieu of cash), which are taxed on their cash equivalent value.
• Tax is charged on the full gross amount of the distribution before any withholding tax is deducted; any tax withheld at source can then be credited against the taxpayer's liability.
• A distribution taxed under Schedule F cannot also be taxed under any other provision of the Income Tax Acts, preventing a double charge to income tax on the same income.