huh? You are liable on your worldwide income to the Irish Revenue.bacchus said:I have checked and double checked with French revenue, and i have it in writting that there is no liability to anybody else than the french revenue for French rental income. This is particular to RENTAL INCOME
Note: there is liability to Irish revenue for any other French income, i.e. stock trading, salary....
Subject to the provisions of the law of Ireland regarding the allowance as a credit against Irish tax of tax payable in a territory outside Ireland, French tax payable directly on or by deduction in respect of income from sources within France shall be allowed as a credit against any Irish tax payable in respect of that income.
Correct, if you are tax-resident in Ireland (and all the discussion so far suggests that).hmmm said:You are always liable to Irish tax* on foreign income. Double taxation agreements are there to ensure that you get a deduction on your Irish tax liability for tax paid in a foreign country.
You are very presumptuous to invalidate the content of a complete post (#13 i guess) because of an incomplete statement rather than an incorrect one (for French system). I still persist in maintaining that the information post in #13 about French tax Option 1,2 & A, B is correct.meccano said:Bacchus, you are misleading people VERY BADLY here!!
You are wrong about both the French system, and the Irish system!
Unfortunately, nop... but i wish i did as you would be retired by now with more money in the bank than i could expect to spend in a life timemeccano said:Are you perchance selling French property to Irish people? Zut Alors!!
I have never seen any mention to "furnished/unfurnished" when reading about micro-foncier. But i am willing to accept you complement of information shall you be ale to back it up by please posting a link or extract of document mentionning "unfurnished only" for the application of micro foncier.meccano said:The Micro Foncier system you referred to only applies to UNFURNISHED PROPERTY.
Any Irish owner is likely to be renting a HOLIDAY home, which is probably furnished. Therefore the MicroFoncier system DOES NOT APPLY!!
Thanks for that, i did know about it.meccano said:The Micro Bic system is applicable to FURNISHED properties, and it is much more generous in its fixed allowances than Micro Foncier.
But does it really matter about much tax you actually pay in France as you will ultimately end up paying 42% ( a bit in France, a bit in Ireland). anyway by the end (presuming 42% tax rate applicable).meccano said:It works as follows (using Bacchus's example) Rental income 6,000 euro (the max is actually 76,300 per annum in the case of MicroBic!) subtract a fixed allowance of 72%, this gives a TAXABLE income of 28%, being 1,680 euro in this example.
That ammount is then taxed at 25%, so the tax payable is only 420 euro!!!
I know for a a fact 3 years ago Irleand did not have a tax agreement where you avoid Iriah tax liability with France so double taxation on rental income from France was the only way.efm said:Bacchus
Do you have it in writing from the Irish Revenue Commissioners that there is no liability for Irish taxes on French income ?
This quote from the revenue website seems to indicate that foreign rental income is taxable:
Loki said:I know for a a fact 3 years ago Irleand did not have a tax agreement where you avoid Iriah tax liability with France so double taxation on rental income from France was the only way.
bacchus said:The DTA between France and Ireland dates from March 1968.
See here [broken link removed]
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