confused12
Registered User
- Messages
- 41
Is there any charge for transferring the money?
Non-residents are subject to tax in the country that they are resident in.
You need to declare the Irish deposit interest to the tax authorities in your country of domiciliation.
Have a read of http://www.revenue.ie/en/tax/it/leaflets/res1.html as it can be different for everybody.I see. So when do you become a non-resident? As in, does somebody working in a foreign country for 6 months who is transferring money home qualify as a non-resident?
Have a read of revenue link
Non-residents are subject to tax in the country that they are resident in.
You need to declare the Irish deposit interest to the tax authorities in your country of domiciliation.
So as a non resident I would obviously be taxed by the country I'm residing in but I don't understand how this applies to money I send home (after tax) and wish to put in a deposit account
From a tax point of view "home" is where you are domiciled. If you are domiciled in, say, the UK, then your Irish bank account is a foreign bank account from which you are earning interest. You are entitled to pay no DIRT in Ireland because you are not domiciled there. By the same token, you have to declare and pay tax on this where you are domiciled, i.e. the UK. The fact that the money on deposit is "after tax" is no different from any deposit.
Perhaps you know better than we do in which country you are, and what is that country's tax deduction for interest earned abroad.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?