Question in relation to offshore tax evaiders

lifeandtimes

Hi Guy,

I was reading this article below and not being full up on the topic i thought id ask the question here

http://news.sky.com/story/1241387/osborne-jail-threat-for-offshore-tax-evaders

My question is in relation to the foreign income part

"Previously, in order to earn a conviction with a jail sentence, prosecutors had to show that individuals intended to avoid paying tax on foreign income."

What id like to know is,does this apply to people who make money over seas,keep the money in accounts over seas and spend it over seas,do they fall into this bracket or are they safe as the money never touched their shores or were not spent on the country?

Thanks

CIARAN_BOYLE

First of all that england not ireland different systems

Are you domiciled as well as resident, it has different implications when considering foreign income.

lifeandtimes

CIARAN_BOYLE wrote: »

First of all that england not ireland different systems

Are you domiciled as well as resident, it has different implications when considering foreign income.

For the sake of argument lets say england as this relates to that country and say you live there full time and make money from work that is done over seas(odd travel here and there but not enough to be considered you are not living in england)

Pro Hoc Vice

lifeandtimes wrote: »

For the sake of argument lets say england as this relates to that country and say you live there full time and make money from work that is done over seas(odd travel here and there but not enough to be considered you are not living in england)

The usual normal rule for income tax is that tax is due on all income no matter where earned in the country in which the tax payer is tax resident. There are of course exceptions but in general it's as above.

Non declaration of any income that should be declared may be an offence.

Mr. Incognito

lifeandtimes wrote: »

Hi Guy,

I was reading this article below and not being full up on the topic i thought id ask the question here

http://news.sky.com/story/1241387/osborne-jail-threat-for-offshore-tax-evaders

My question is in relation to the foreign income part

"Previously, in order to earn a conviction with a jail sentence, prosecutors had to show that individuals intended to avoid paying tax on foreign income."

What id like to know is,does this apply to people who make money over seas,keep the money in accounts over seas and spend it over seas,do they fall into this bracket or are they safe as the money never touched their shores or were not spent on the country?

Thanks

Firstly that is UK revenue and has nothing to do with ireland.

Secondly if you are irish resident and domiciled then ALL worldwide income is subject to irish tax whether remitted to ireland or not

Peregrinus

Mr. Incognito wrote: »

Secondly if you are irish resident and domiciled then ALL worldwide income is subject to irish tax whether remitted to ireland or not

Subject to any relief from Irish tax that may be available to the taxpayer under the terms of a tax treaty between Ireland and the country where the income is earned.