General information - types of securities, deadlines, other market specifics - Ireland


Types of securities

The eligible securities issued in Ireland are as follows:

  • Government bonds;
  • Equities.

Types of beneficial owner recognised in Ireland

The following types of beneficial owner are recognised for tax purposes in Ireland:

  • qualifying non-resident persons;
  • excluded Irish persons.

The main categories of beneficiaries considered as being qualifying non-resident persons according to Irish law are the following:

  • an individual or an unincorporated entity which is neither resident nor ordinarily resident in Ireland, but resident in another EU Member State or in a Double Taxation Treaty (DTT) country for tax purposes;
  • a company resident in another EU Member State or in a DTT country that is not controlled, either directly or indirectly, by Irish residents;
  • a company (not resident in Ireland) ultimately controlled by residents of another EU Member State or of a DTT country;
  • a company of which the principal class of shares (either belonging to a 75% parent, or to two or more companies by which the company is wholly-owned) is substantially and regularly traded on a recognised stock exchange in another EU Member State or in a DTT country, or on such other exchange as may be approved of by the Minister of Finance;
  • companies that are wholly owned by two or more companies, each of whose principal class of shares are substantially and regularly traded on one or more recognised stock exchanges in a relevant territory.

The main categories of beneficiaries considered as being excluded Irish persons according to Irish law are the following:

  • an Irish resident company;
  • a pension scheme;
  • manager of approved retirement funds, approved minimum retirement funds and special savings incentive accounts;
  • a qualifying employee share (ownership) trust;
  • a collective investment undertaking;
  • a charity;
  • a sports body that has been granted exemption from tax by The Revenue;
  • a designated stockbroker who is receiving relevant distributions as part of the income of a special portfolio investment account;
  • a qualifying fund manager who is receiving relevant distributions as income arising in respect of assets held in an approved retirement fund (ARF);
  • Irish Exempt Unit trusts;
  • Irish Person Retirement Savings Account administrators;
  • certain other persons resident in Ireland.

The complete lists and further details are available on The DWT Technical Guidance Notes.

Deadlines for obtaining relief at source

To allow CBL to apply tax relief at source, customers must open a segregated account on which they will hold exclusively positions eligible for tax exemption and that are duly certified. The required certification described below has to be received by Clearstream Banking before the transfer of the securities in this exempt account. After the receipt and validation of the certification, the customer account will be flagged X (exempt) and all dividends from Irish domestic equities will be paid gross.

Statutory deadline for reclaiming withholding tax

The statutory deadline for reclaiming withholding tax using the standard procedure is four years following the end of the year in which the income payment was made.

Clearstream deadline for standard refund applications

The deadline by which Clearstream Banking must receive the documentation for a standard refund application is at the latest two months before the statutory deadline. All standard refund applications received after this deadline will be processed by Clearstream Banking on a "best efforts" basis. However, in such a case, Clearstream Banking will apply an extra charge and accepts no responsibility for forms that have not reached the Irish Tax Authorities by the date considered being the statute of limitations deadline.

When are refunds received?

The estimated time for receiving a refund from a standard refund application is four months from the date of receipt by the Irish Tax Authorities, although this can vary depending on when the application is filed and the complexity of the information supplied in the reclaim form.

Notes on tax reclaims

Customers warrant the completeness and accuracy of the information they supply to Clearstream Banking.

It is the customer's responsibility to determine any entitlement to a refund of stamp duty or tax withheld, to complete the forms required correctly and to calculate the amount due. Clearstream Banking is under no obligation to carry out any investigation in respect of such information.

With respect to reclaims in general, customers are reminded that Clearstream Banking accepts no responsibility for their acceptance or non-acceptance by the authorities of the respective country.