implications of depositing funds abroad

[j1980]

Hi, I was just wondering what the tax implications were for depositing funds abroad. Assuming i deposit € 100 k for 1 year in a deposit a/c ,inform the revenue the funds have left the country and when the term is up i want to bring the money back what dirt tax if any do i pay and what other penalties do i face ?

 

[Lightning]

The same DIRT rate as in Ireland, which you will need to pay to the Revenue, if the funds are in a EU bank.

 

[dewdrop]

Have you considered what will happen when the depositor dies and possible need for Grant of Probate to be extracted in the country where the funds are.