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Sold property outside Europe - Irish tax on income

  • 14-09-2016 01:06AM
    #1
    Registered Users, Registered Users 2 Posts: 1,571 ✭✭✭


    A Irish Citizen who came to Ireland 15 years ago and has a business in Ireland is selling land in Chile to bring funds to Ireland to purchase a house here. Funds are approximately 180,000 euro.
    Will be taxed on sale of land in Chile. Will huge tax bill be payable here if money is lodged in Irish bank account


Comments

  • Registered Users, Registered Users 2 Posts: 26,706 ✭✭✭✭Mrs OBumble


    If the Irish Citizen is tax resident here, I believe they will be liable for captial gains tax here - irrespective of where the property is located, and whether or not the cash is lodged into a bank account here.


  • Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Talk to a qualified accountant, it looks like there's a treaty between Ireland and Chile for the avoidance of double taxation:

    http://www.revenue.ie/en/practitioner/law/double/chile.pdf


  • Registered Users, Registered Users 2 Posts: 1,571 ✭✭✭Builderfromhell


    Thanks.
    I wonder how capital gains tax is assessed.


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


    Thanks.
    I wonder how capital gains tax is assessed.

    Dont wonder- Hire a professional.


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