We will deduct Deposit Interest Retention Tax (D.I.R.T.) at the prevailing rate from all interest earned, unless you are entitled to exemption from D.I.R.T., and we will pay this directly to the Revenue Commissioners.
To the extent that D.I.R.T. has been deducted there is no further liability to Irish income tax, but individuals may be subject to P.R.S.I. Deposit Interest is not liable to the Universal Social Charge.
The Bank will deduct D.I.R.T. from the accounts of non-residents unless a fully completed non-resident declaration form is held by the Bank and a minimum balance of EUR12,500 is maintained at all times in each account maintained by the non-resident.
If you or your spouse/civil partner are aged 65 or over in the current tax year, or are permanently incapacitated, and you are exempt from income tax, you may apply to have the interest on the account paid without deduction of D.I.R.T.
Companies (within the charge to corporation tax), Pension Schemes and Charities may receive interest without deduction of D.I.R.T, by providing the Bank with the tax reference number assigned to them by the Revenue Commissioners.
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website. AIB and AIB Group are registered business names of Allied Irish
Banks, p.l.c. Registered Office: Bankcentre, Ballsbridge, Dublin 4. Tel: +
353 16600311 Registered in Ireland : Registered No. 24173. Allied Irish
Banks, p.l.c. is regulated by the Central Bank of Ireland. Copyright Allied
Irish Banks, p.l.c. 1995