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Double taxation with USA

  • 18-02-2019 11:06pm
    #1
    imelle
    Registered Users Posts: 445 ✭✭


    Hi,

    I'm planning to go to USA next September to teach. My contract is from September 2019 until August 2020. As I will be paying the relevant taxes in the USA does this mean if I have any savings at the end of my contract that they will be exempt from tax in Ireland due to double taxation?

    I am currently teaching in Ireland until September 2019 and will be returning to my teaching position in Ireland in September 2020

    Should I phone revenue on this matter as I'm finding it a little difficult to understand.

    Like if I save 5000€ can I transfer it to my bank account at home without having to worry about any tax issues. I understand there will be bank charges and exchange rates etc.


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,564 ✭✭✭✭Calahonda52


    Double taxation doest NOT necessarily mean that you will pay no taxes in Ireland as you are still tax resident here so taxed on worldwide income.
    https://www.revenue.ie/en/jobs-and-pensions/tax-residence

    What DT, in general terms, means is that if you pay 18% in US and are liable at 40% here then you pay the 40% here and get credit for the 18%

    The 5,000 to which you refer is not an issue as it will be from taxes income

    “I can’t pay my staff or mortgage with instagram likes”.



  • #3
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,564 ✭✭✭✭Calahonda52


    Calahonda52 wrote: »
    Double taxation doest NOT necessarily mean that you will pay no taxes in Ireland as you are still tax resident here so taxed on worldwide income.
    https://www.revenue.ie/en/jobs-and-pensions/tax-residence

    What DT, in general terms, means is that if you pay 18% in US and are liable at 40% here then you pay the 40% here and get credit for the 18%

    The 5,000 to which you refer is not an issue as it will be from taxed income

    Just wondering, am I right about the general thrust/terms of DT's as stated above?

    “I can’t pay my staff or mortgage with instagram likes”.



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