Taxes Consolidation Act, 1997 (Number 39 of 1997)
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172C Exemption from dividend withholding tax for certain persons.
(1) Section 172B shall not apply where a company resident in the State makes a relevant distribution to an excluded person.
(2) For the purposes of this Chapter, a person shall be an excluded person in relation to a relevant distribution if the person is beneficially entitled to the relevant distribution and is—
(a) a company resident in the State which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 3 of Schedule 2A[7]>, but this paragraph is without prejudice to the operation of section 172B(8)<[7],
(b) a pension scheme which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 4 of Schedule 2A,
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(ba) a qualifying fund manager or a qualifying savings manager who—
(i) is receiving the relevant distribution as income arising in respect of assets held—
(I) in the case of a qualifying fund manager, in an approved retirement fund or an approved minimum retirement fund, and
(II) in the case of a qualifying savings manager, in a special savings incentive account,
and
(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 4A of Schedule 2A,
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(bb) a PRSA administrator who is receiving the relevant distribution as income arising in respect of PRSA assets, and has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 10 of Schedule 2A,
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(bc) a PEPP provider who is receiving the relevant distribution as income arising in respect of PEPP assets, and has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 12 of Schedule 2A,
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(bd) subject to subsection (4), a scheme which—
(i) would, if it were established in the State, be an approved scheme within the meaning of Chapter 1 of Part 30 (in this paragraph referred to as an ‘approved scheme’),
(ii) is authorised by a country, other than an EEA state, with which the State has entered arrangements pursuant to section 826(1B) and is subject to supervisory and regulatory arrangements at least equivalent to those applied to an approved scheme in the State, and
(iii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 13 of Schedule 2A,
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(c) a qualifying employee share ownership trust which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 5 of Schedule 2A,
(d) a collective investment undertaking which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 6 of Schedule 2A, [2]>or<[2]
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(da) a person who—
(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 189(2), subsection (2) or (3)(b) of section 189A or section 192(2), and
(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 6A of Schedule 2A,
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(db) a unit trust to which section 731(5)(a) applies and which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 11 of Schedule 2A,
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(e) a person who—
(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 207(1)(b), and
(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7 of [3]>Schedule 2A.<[3][3]>Schedule 2A,<[3]
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(f) an approved body of persons which—
(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 235(2), and
(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7A of Schedule 2A,
or
(g) a designated broker who—
(i) is receiving the relevant distribution as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account, and
(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7B of Schedule 2A.
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(3) For the purposes of subsection (2) and Schedule 2A—
(a) a collective investment undertaking which receives a relevant distribution, [10]>and<[10]
(b) a designated broker who receives a relevant distribution as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account,
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(c) a qualifying fund manager or a qualifying savings manager who receives a relevant distribution as income arising in respect of assets held—
(i) in the case of a qualifying fund manager, in an approved retirement fund or an approved minimum retirement fund, and
(ii) in the case of a qualifying savings manager, in a special savings incentive account,
and
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(ca) a PRSA administrator who receives a relevant distribution as income arising in respect of PRSA assets,
(cb) a unit trust to which section 731(5)(a) applies which receives a relevant distribution in relation to units in that unit trust,
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(d) the trustees of a qualifying trust (within the meaning of section 189A) who receive a relevant distribution as income arising in respect of the trust funds [15]>(within the meaning of that section)<[15][15]>(within the meaning of that section), and<[15],
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shall be treated as being beneficially entitled to the relevant distribution.
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(e) a PEPP provider who receives a relevant distribution as income arising in respect of PEPP assets,
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(4) A person shall not be an excluded person under subsection (2)(bd) in relation to a distribution which is a relevant distribution to which section 817X applies.
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Inserted by FA05 s47(1)(b)(i)(II). This section shall apply as on and from 3 February 2005.