Liable for tax?

Hi there,


Currently live in U.S, buying a property in ireland to use as vacation home,
want to know am i liable for tax on the money i plan to use to buy the house.

thanks

hi

should be no liability for tax on the money you use to buy the house, the taxes you may have to pay would be stamp duty on the purchase, income tax on rental profits if you decide to rent it out when you are not there and lastly capital gains tax should you sell the house at a profit at some later date the tax is 20% of the net gain.

hope this helps would need more info to advise you better

birdy777 said:

Hi there,


Currently live in U.S, buying a property in ireland to use as vacation home,
want to know am i liable for tax on the money i plan to use to buy the house.

thanks

Click to expand...

You will have to show the source of the money. It is part of our "anti money laundering" legislation.