In practice, it's widely ignored.
Look who's getting away with not paying this estate tax
Foreign holders of U.S. assets who fail to pay estate taxes could be costing the U.S. Treasury billions of dollars.
In practice, it's widely ignored.In practice, how does this work does anybody know?
Currency fluctuations between € and $ is my main one, it’s just another unknown element. Could easily see the difference between 41% and 33% disappear. For me it’s the deemed disposal at 8 years that’s the concern. I’d really rather just pay the tax when I sell them regardless of 41 or 33 %
Thanks though I wasn't clear in my questionThey're available to purchase yes. Again though, none of this is financial advice
As an EU resident, my understanding is that when you buy a US ETF on eToro, you're not actually buying the ETF, but a Contract for Difference (CFD).Don’t forget the broker etoro....I did a bit of research into them also.....
eToro for US ETFs and no stamp duty Irish shares
I Just downloaded the eToro app and I have my application pending. I remember someone on here saying that this platform can be used to purchase US ETFs. I checked in the trade section on the app for availability on a few very common ETFs such as; VOO SPY XLF QQQ They are all available. How is it...www.askaboutmoney.com
If it’s not too massive a personal question how are you getting funds into your First Trade account, I have one but they don’t seem to allow me to send $$ using CurrencyFair, transferwise revolut, PayPal or any of the other ways I’d normally send cash to the USA.Opened a First Trade account three weeks ago with no issues
Came across this thread and have the same question..If it’s not too massive a personal question how are you getting funds into your First Trade account, I have one but they don’t seem to allow me to send $$ using CurrencyFair, transferwise revolut, PayPal or any of the other ways I’d normally send cash to the USA.
Simple bank transfer? I just send money in USD via AIB bankingIf it’s not too massive a personal question how are you getting funds into your First Trade account, I have one but they don’t seem to allow me to send $$ using CurrencyFair, transferwise revolut, PayPal or any of the other ways I’d normally send cash to the USA.
Simple bank transfer? I just send money in USD via AIB banking
Yep was 15 euros. But if you're transferring thousands, its not that much reallyDoes it work out quite expensive? Had a look there and it seems to be a €15 fee (would have guessed more) but I presume there is also unfavourable forex rates to drive up the cost.
Thanks, I can’t seem to get the required info to align at both ends. Gave up in the endSimple bank transfer? I just send money in USD via AIB banking
Yep was 15 euros. But if you're transferring thousands, its not that much really
€ 64 is 2% but you will struggle to find something better for that small amount of $
So this confirms that exit tax and deemed disposal will apply to US ETFs? Which we already suspected I thinkFor the benefit of this thread, as of 1/1/2022 Revenue have removed their guidance that US ETFs attract the same taxation as general shares.. See the footnote at the bottom of page 2 of the Revenue's ETF taxation manual:
https://www.revenue.ie/en/tax-profe...ins-tax-corporation-tax/part-27/27-01a-03.pdf
It is important to note that not every fund in the EU/EEA/OECD that is subject to local regulation (for example by the local Central Bank) will fall within this equivalent definition. It is only funds which are similar in all material respects to the Irish fund vehicles which are included
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