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Differnces between trading European & US shares compared to Irish shares

  • 22-10-2010 04:43PM
    #1
    BSPOKE20
    Registered Users, Registered Users 2 Posts: 108 ✭✭


    What are the main differences in buying European/US shares from that of Irish shares, with regard to extra trade fees - if any, or taxes payable on gainful sale of European/US shares (eg. profit made on US stock - is tax payable to US or Irish revenue, or both?).

    Thanks.


Comments

  • #2
    Raskolnikov
    Registered Users, Registered Users 2 Posts: 10,147 ✭✭✭✭Raskolnikov


    BSPOKE20 wrote: »
    What are the main differences in buying European/US shares from that of Irish shares, with regard to extra trade fees - if any, or taxes payable on gainful sale of European/US shares (eg. profit made on US stock - is tax payable to US or Irish revenue, or both?).

    Thanks.
    Stamp duty of 1% is levied on Irish shares and 0.5% on UK shares. This is deducted at source.

    As an Irish resident, you pay CGT to the Irish government on the gain you make any sale. If you receive a dividend, this is treated as income and taxed as such.

    Brokerage fees with Irish brokers are usually more than that of European/US brokers. Personally, my broker ($8 a trade) only does US/European/Asian stocks, and I use the likes of Sharewatch if I want to occasionally trade Irish companies.


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