newirishman
Registered User
- Messages
- 1,195
You don't seem to understand what income means.
If you earn income (even if not remitted) that can be attributed to work done in Ireland whilst you are resident, it'll be taxable under the worldwide income rule.
For example: if you do work for a foreign company whilst living in Ireland, get paid into an account outside of Ireland, even if you don't remit the money, you are liable for income rax.
If your only source of income, for example, is some interest on money in a savings account in some foreign bank, you most likely don't have to worry about income tax.
It really depends if any of your earnings can be attributed to work done whilst you are resident in Ireland. What "work" exactly means in this context can be tricky to define.
Interest on a savings account? Not work.
Somewhat actively managing a portfolio of shares? If you don't do anything else, might get classified as "work".
That's why you should talk to a professional.
You won't be able to not get on Revenue's radar one way or the other. You will need a PPSN, most likely. (To open a bank account for example).
Can you risk moving to Ireland for 5 years and get away with not registering for tax?
Sure you can.
I sure hope you do know how to keep yourself entertained with not-work, or like doing voluntary work etc, as otherwise it might be a long and boring 5 years.
Also please make sure you thank your fellow tax-paying Irish resident for making sure there's e.g. free hospital care when you need it
If you earn income (even if not remitted) that can be attributed to work done in Ireland whilst you are resident, it'll be taxable under the worldwide income rule.
For example: if you do work for a foreign company whilst living in Ireland, get paid into an account outside of Ireland, even if you don't remit the money, you are liable for income rax.
If your only source of income, for example, is some interest on money in a savings account in some foreign bank, you most likely don't have to worry about income tax.
It really depends if any of your earnings can be attributed to work done whilst you are resident in Ireland. What "work" exactly means in this context can be tricky to define.
Interest on a savings account? Not work.
Somewhat actively managing a portfolio of shares? If you don't do anything else, might get classified as "work".
That's why you should talk to a professional.
You won't be able to not get on Revenue's radar one way or the other. You will need a PPSN, most likely. (To open a bank account for example).
Can you risk moving to Ireland for 5 years and get away with not registering for tax?
Sure you can.
I sure hope you do know how to keep yourself entertained with not-work, or like doing voluntary work etc, as otherwise it might be a long and boring 5 years.
Also please make sure you thank your fellow tax-paying Irish resident for making sure there's e.g. free hospital care when you need it
Last edited: