DIRT is charged at source on deposit interest.

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Prepare for the QFA Investments Exam 1. Study with flashcards and multiple-choice questions with detailed explanations. Enhance your understanding and succeed on your exam!

Multiple Choice

DIRT is charged at source on deposit interest.

Explanation:
DIRT is a withholding tax on the interest earned from deposits. The bank deducts the tax from the interest payment and passes the net amount to you while sending the tax to Revenue. That makes the description that it is withheld at source from the interest the best fit. It isn’t a tax on capital gains, and it applies to deposit interest in general, not only to corporate bonds.

DIRT is a withholding tax on the interest earned from deposits. The bank deducts the tax from the interest payment and passes the net amount to you while sending the tax to Revenue. That makes the description that it is withheld at source from the interest the best fit. It isn’t a tax on capital gains, and it applies to deposit interest in general, not only to corporate bonds.

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