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Tax issues - how will Revenue know?

2»

Comments

  • #32
    lifeandtimes
    Closed Accounts Posts: 2,021 ✭✭✭lifeandtimes


    BrokenArrows wrote: »
    Revenue have agreements with many organizations to get information.
    And just because they might not have agreements now it doesnt mean they wont in the future.

    In a standard audit they will look back through 7 years but are allowed to look back as far as they want.

    If you used some provider to keep your money online to avoid tax today and revenue make an agreement with that company in 7 years they could still catch you.

    So Cayman islands you're saying?


  • #33
    danko82
    Registered Users, Registered Users 2 Posts: 222 ✭✭danko82


    I use different exchanges and I have 2 bank account one irish, and one from another country.
    Now, I am talking about amount of 2/3k but how they can check if I lost or gained money?
    it is very difficult for myself too


  • #34
    GreeBo
    Registered Users, Registered Users 2 Posts: 27,505 ✭✭✭✭GreeBo


    danko82 wrote: »
    I use different exchanges and I have 2 bank account one irish, and one from another country.
    Now, I am talking about amount of 2/3k but how they can check if I lost or gained money?
    it is very difficult for myself too

    It's self reporting, if they ask, you have to prove you didn't make a gain.
    The onus is on you, not them.


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