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savings a/c in another eu country...

  • 31-08-2010 8:57pm
    #1
    makeorbrake
    Registered Users, Registered Users 2 Posts: 4,666 ✭✭✭


    If you open a savings account in another EU country, I know that theres an onus on the individual - if we assume their domiciled in IRL to declare this in a tax return to revenue. Other than this, is there a system in place for overseas banks to report said account details to the relevant (ie. irish) tax authority in respect of their foreign customers?

    Also, how does taxation work on interest in that instance? ie. if the dirt tax equivalent is just 10% in the country where the account is held, will this be applied or irish dirt or both?

    (Before I get flamed, this is not a tax evasion based query - I'm just curious as to how the system works!)


Comments

  • #2
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭pow wow


    Not in practice as far as I know, but then I don't have big bucks in my overseas accounts :P I know Citibank insisted on having my tax ID number for ROI which implied they were going to use it to inform Revenue of my holdings but they haven't thusfar. I pay tax at source on the interest in the countries I have the accounts in.

    Essentially they have the facility, but don't always do it.


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