Irish Revenue has issued eBrief No. 143/23 on an update to Tax and Duty Manual (TDM) Part 08-03-06 - Payment and receipt of interest and royalties without deduction of income tax. In general, income tax must be deducted (withheld) on interest and royalty payments under Sections 246 and 238 of the Taxes Consolidation Act 1997, respectively, although there are several exemptions as explained by TDM Part 08-03-06. The update concerns interest payments to certain statutorily tax-exempt bodies a…