On 3 October 2012, the Revenue issued an eBrief No. 43/12 on interest payments under section 246(3)(h)(I) of the Taxes Consolidation Act 1997.
Under this section, interest paid to a company resident in the state that provides for a remittance basis of taxation is exempt from withholding tax and from the charge to income tax. The remittance basis provides that the resident of a state is subj…