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Residency for Tax?

theguzman · 2020-02-04 17:53:19

What is the situation for tax and residency. Is there any way to lower or avoid CAT entirely? What if one non-resident left his Irish property and cash to another non resident, both Irish citizens. Is there any loophole to avoid paying CAT on valuable property?

04-02-2020 5:53pm

#1

theguzman

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What is the situation for tax and residency. Is there any way to lower or avoid CAT entirely? What if one non-resident left his Irish property and cash to another non resident, both Irish citizens.

Is there any loophole to avoid paying CAT on valuable property?

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Comments

#2 04-02-2020 6:49pm

thegolfer

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Primarily no, however with planning it can be reduced

It depends on the person gifting, their tax residence, and the residence of the giftee.

If the assets are Irish property land and buildings no, they are taxable, however cash can be worked with.

If liquidating assets, then you are bringing in the cgt element and loosing value.

It's limited the details you have provided, and in order for a comprehensive response more information is required.

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