Are Funds Remitted to Ireland but Earned Abroad Taxable?

missmoleman

Hi Guys,

Supposing one leaves Ireland for a number of years and works/runs their company elsewhere, paying corporation tax and extracting dividends into a UK bank account for example.

If they then return to Ireland and move this money from the UK back to Ireland is it taxable here?

Or is the fact it was earned during a period when the individual was not resident in Ireland mean it is not taxable?

Any general suggestions would be much appreciated!

Thanks

Shane732

missmoleman wrote: »

Hi Guys,

Supposing one leaves Ireland for a number of years and works/runs their company elsewhere, paying corporation tax and extracting dividends into a UK bank account for example.

If they then return to Ireland and move this money from the UK back to Ireland is it taxable here?

Or is the fact it was earned during a period when the individual was not resident in Ireland mean it is not taxable?

Any general suggestions would be much appreciated!

Thanks

The remittance basis of taxation only applies to non-domiciles now.

However, you'd need to look at the precise details of the case in order to establish the tax liability in Ireland. In the example you gave above the income may well not be taxable in Ireland - you'd need to get professional advice on this though.

missmoleman

Thanks for the advice Shane, I'm going to meet with a tax advisor tomorrow so will try to get a more definitive answer.