DWT, or Dividend Witholding Tax, is deducted from dividends paid by Irish companies. If you are in receipt of Irish dividend income, DWT is deducted at 20%. This 20% is then used as an offset against your income tax liability.

But what if you do not have an Income Tax liability?
You can claim a refund of DWT, where your income tax calculated on your taxable income (from dividends and other sources) is less than the amount of DWT paid. This can in particular happen if you are out of work or finished work.

DWT refunds available if you are over 65 and your income is below the revenue exemption limits, a topic we will cover in a later blog.

If you need further information or help on this matter, why not contact us here