DIRT (Deposit Interest Retention Tax)

 

DIRT is deducted at source by Irish financial institutions, such as banks, from deposit interest paid or credited to the accounts of Irish residents. The DIRT rate for 2022 is 33%. Your bank will deduct the DIRT before they pay you the interest and you can request a statement from them. It’s also up to the financial institution to decide if a deposit is subject to DIRT.

 

In some circumstances, you may also have to pay Pay Related Social Insurance (PRSI) on the interest. Universal Social Charge (USC) doesn’t apply to deposit interest.