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Transferring injury compensation monies from Australia to Ireland

  • 11-04-2015 8:36am
    #1
    Registered Users, Registered Users 2 Posts: 2


    My friend just got a significant compensation payout. He's moving back to Ireland. Will he have to pay any taxes on these monies .

    Thanks


Comments

  • Moderators, Business & Finance Moderators Posts: 10,718 Mod ✭✭✭✭Jim2007


    No it will be treated as a capital sum and not subject to income taxes. However he can expect to be asked to provide solid documentation of the source of the cash by the bank as they are required to ensure that there is no money laundry involved.


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