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Capital Gains in EU - TAX

  • 21-05-2016 8:25pm
    #1
    TRex808
    Registered Users, Registered Users 2 Posts: 2 ✭


    I am an employee under the PAYE system and I just moved to Ireland from Germany. I still have a bunch of equity ETF funds where I am invested on my german account. I was wondering if, and how I should/need to declare those.

    Should also I declare the dividends? I am already being taxed in Germany.

    anyone has an idea on how it works?
    Tagged:


Comments

  • #2
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,627 ✭✭✭✭Marcusm


    If you are not the child of Irish parents and do not have the intention to live in Ireland until the end of your days, you are likely to be categorised as having a foreign domicile. Domicile is best regarded as your natural home and is independent of your actual home.

    Persons who are Irish resident but who have a foreign domicile will generally only be liable to Irish income tax and capital gains tax if they bring the income or capital into Ireland - this is known as the remittance basis.


  • #3
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    You'll need to speak to an accountant or tax advisor.

    There are too many variables.

    There is a Statement of Practice that deals with foreign shares earned if they are related to employment.

    In general, they will most likely be taxed in Germany first and you may or may not be liable to Irish tax also. (depending on whether they are related to emplyment and whether you remit a protion of the income)

    If you are liable to Irish tax you should be able to take a credit for the German tax suffered at source. (if any) but you'll need an effective rate calculation.

    The easiest answer is to ask your employer as most secondments have a tax equalisation policy. If you have simply moved here then contact an accountant or a tax advisor.


  • #4
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,627 ✭✭✭✭Marcusm


    Mr. Incognito wrote: »
    You'll need to speak to an accountant or tax advisor.

    There are too many variables.

    There is a Statement of Practice that deals with foreign shares earned if they are related to employment.

    In general, they will most likely be taxed in Germany first and you may or may not be liable to Irish tax also. (depending on whether they are related to emplyment and whether you remit a protion of the income)

    If you are liable to Irish tax you should be able to take a credit for the German tax suffered at source. (if any) but you'll need an effective rate calculation.

    The easiest answer is to ask your employer as most secondments have a tax equalisation policy. If you have simply moved here then contact an accountant or a tax advisor.

    He made no reference to being on secondment and I would be surprised if exchange traded funds were employment related.


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