Each one of the European countries where are partner banks are located have different procedures regarding the withholding of tax on deposit interest. You can find details of the tax implications and requirements to reduce withholding tax in each country in the following article: https://help.raisin.ie/hc/en-gb/articles/12591970446482-What-is-the-withholding-tax-in-each-country-and-what-documentations-do-I-need-to-reduce-it
Below you will find some general information about double taxation and how to obtain a letter of residence from Revenue.
Currently, Ireland has signed 76 Double Taxation Agreements (DTAs) with different countries around the world, of which 74 are in effect.
To avoid double taxation between Ireland and the European country where you deposit your funds, it will generally be necessary to send Raisin a Letter of Residence confirming you are tax resident in Ireland. In some countries, however, such as France or Italy, it is not necessary to submit any such document, as these countries do not apply a withholding tax to non-residents in the country.
This Letter of Residence is easily requested and downloaded via Revenue’s website, through the "Manage My Record" portal in myAccount. Once you have received it, you can send it to us via the 'Messages' function in your Raisin Account or by email (contact@raisin.com). If you choose to send it by email, please make sure you use the email address registered to your Raisin Account, we cannot accept documents from other email addresses. We will take care of sending it to the partner bank.
There may also be additional documentation required (for example in Latvia), Raisin will provide this to you if applicable.
For further information on this topic, please refer to our section on taxation, or alternatively Revenue’s online service.
We cannot provide any specific tax advice, we recommend you speak to an independent tax advisor if you have any specific queries.