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International transfer limit declared to Revenue??

  • 04-02-2010 2:05pm
    #1
    baldeagle
    Registered Users, Registered Users 2 Posts: 8 ✭


    What is the € limit/threshold for international transfers above which the bank (AIB for me) has to automatically declare it to Revenue? Or do they even? I believe the bank will ask where the money came from (no issues there, family member loaned it to help with our first house purchase). I've heard conflicting statements about all this....

    I only ask as I wonder if it's less hassle to just do, say, two seperate 10k transfers rather than one large 20k transfer.
    Tagged:


Comments

  • #2
    Jet Black
    Registered Users, Registered Users 2 Posts: 3,845 ✭✭✭Jet Black


    It does not matter, just transfer the lot.

    I would recommend going into the bank with the details of where you want it transfered and explain what you are doing.


  • #3
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,804 ✭✭✭GerardKeating


    baldeagle wrote: »
    What is the € limit/threshold for international transfers above which the bank (AIB for me) has to automatically declare it to Revenue? Or do they even? I believe the bank will ask where the money came from (no issues there, family member loaned it to help with our first house purchase). I've heard conflicting statements about all this....

    I only ask as I wonder if it's less hassle to just do, say, two seperate 10k transfers rather than one large 20k transfer.

    Won't make a difference, the compliance officers in the bank would amalgamate the transfers for reporting purposes...


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