As a resident of Ireland, you will have to declare the interest earned on the deposits you sign up for through Raisin Bank when filing your income tax return with Revenue .
Depending on which of our partner banks you decide to save with, it is possible that the country they are based in will apply a withholding tax to the interest earned. However, in most European countries, you will be able to reduce this withholding tax by sending us a certificate of tax residence in Ireland.
For countries where the withholding tax cannot be reduced, you will be able to offset the amount you paid against DIRT owed when filing your annual tax return with Revenue. Ireland has double taxation treaties in place with all of the countries in which our partner banks are based in. You will therefore never be taxed twice on the interest earned through Raisin Bank’s products.
To find out more about how the products you take out with Raisin Bank are taxed, please take a look at our taxes guide. We also encourage customers to seek independent tax advice if they are unsure about the implications.