Hi,
Apologies for the over-simplicity of this question but I can't seem to get a proper answer!
What if I have a broker account and get returns on stock (that I sell) above the €1,270 that are exempt from tax. I am aware I have to fill in my tax papers at the end of the year. However, if the time goes by and I have transferred my returns to a bank account forgotten to do this, will I be penalised? If so, what is the penalty and is it because brokers can communicate with banks to see? I just want to know how it works.
Thank you.
Apologies for the over-simplicity of this question but I can't seem to get a proper answer!
What if I have a broker account and get returns on stock (that I sell) above the €1,270 that are exempt from tax. I am aware I have to fill in my tax papers at the end of the year. However, if the time goes by and I have transferred my returns to a bank account forgotten to do this, will I be penalised? If so, what is the penalty and is it because brokers can communicate with banks to see? I just want to know how it works.
Thank you.