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selling US shares tax implications.

  • 24-06-2016 9:37pm
    #1
    crackcrack30
    Registered Users, Registered Users 2 Posts: 1,162 ✭✭✭


    I was allocated some bonus shares in a US multinational 8-10 years ago.
    I matched these shares with my wages as I could afford it at the time.

    I have been receiving cash Dividends ever since but never added to or sold any shares .....

    The shares have almost doubled in value since...I'm thinking of selling them all and investing in property....question is how much Tax would I be expected to pay if Any on these US shares?

    I wouldn't have a clue about the value or quantity of the shares allocated to me at the time or how much it cost me to match them , All i know is the Quantity of shares i hold and the current value per share.


Comments

  • #2
    c montgomery
    Registered Users, Registered Users 2 Posts: 2,122 ✭✭✭c montgomery


    How do revenue know when you sell shares?.
    Is it done on honesty and self declaration or are they alerted by banks/stockbrokers?


  • #3
    topper_harley2
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭topper_harley2


    If you have been getting a dividend, you should have been declaring this for tax as well. With US shares, 20% DWT is withheld at source in USA, then you declare dividend annually to revenue and they tax the difference (depending on your tax band here).

    You then pay CGT at 41% on any profit when you sell of the shares. See http://www.revenue.ie/en/tax/cgt/cgt-faqs.html

    @c montgomery...Its self declaration, not honesty. They will eventually catch you.


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