Taxes Consolidation Act 1997 section 898I

Returns of interest payments to residual entities

Section 898I required persons making interest payments to residual entities in other EU or associated territories to file annual returns with Revenue.

• Any person carrying on a business or profession in the State who made or secured interest payments to a residual entity in a relevant territory was obliged to file a return with the Revenue Commissioners.
• The return had to be made within 3 months of the end of the tax year and had to include the name and address of the residual entity together with the total amount of interest paid or secured during the year.
• For the tax year 2005, the reporting period was deemed to run from 1 July 2005 to 31 December 2005 only, with full-year reporting applying for subsequent tax years.
• The EU Savings Directive under which this section operated was repealed with effect from 1 January 2016, and anti-evasion measures are now contained in the mandatory automatic exchange of information regime under section 891G.