Tax on investment profits, not living in Ireland

bacon?

Hi. Are you taxed on profits from investments?

If you're not living in Ireland, but are an Irish citizen, do you pay tax on this?

OfflerCrocGod

Not in Ireland, you pay whatever taxes you pay in the country you are in I suppose.

xertpo

OfflerCrocGod wrote: »

Not in Ireland, you pay whatever taxes you pay in the country you are in I suppose.

This is generally the case. And some countries have more favourable taxation schemes for the private investor.

For instance there is no capital gains tax on shares in Holland, but you will be required to pay taxes on dividends.

colsku

xertpo wrote: »

For instance there is no capital gains tax on shares in Holland, but you will be required to pay taxes on dividends.

So if we were to have amazing returns on investments, we could move to Holland, become tax resident, and cash them in, tax free.

How long does it take to lose your Irish tax residency if you spent the full year(s) abroad?

xertpo

colsku wrote: »

So if we were to have amazing returns on investments, we could move to Holland, become tax resident, and cash them in, tax free.

How long does it take to lose your Irish tax residency if you spent the full year(s) abroad?

I'm not 100%, but the important point to remember is the 3 year rule regarding being considered an ordinary resident.

This explains it better than I could:-

http://www.revenue.ie/en/tax/it/leaflets/res1.html

Jim2007

xertpo wrote: »

This is generally the case. And some countries have more favourable taxation schemes for the private investor.

For instance there is no capital gains tax on shares in Holland, but you will be required to pay taxes on dividends.

The same in Switzerland, but tax on dividends if distributed - accum. ETFs are tax free

Jim

evoke

so if i live in ireland and i invest in shares through an irish broker and sell the shares then do i pay English tax on the profit from the shares? or is pay irish tax on the shares?

Jim2007

evoke wrote: »

so if i live in ireland and i invest in shares through an irish broker and sell the shares then do i pay English tax on the profit from the shares? or is pay irish tax on the shares?

Assuming you are Irish resident, which you seem to be, you will pay Irish taxes. However in the case of a dividend, there will be certain UK taxes deducted which will either be refunded or off set against your Irish taxes depending on the tax treaties between the UK and Ireland.

If the amounts are significant, it is best to seek professional tax advice.

Jim.

bacon?

Well, I'm in China. I believe you can get the death penalty here for tax evasion.

I better look into it.