Returning Home with Savings : Liable for Tax?

M

marylou

Registered User
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Hi Everyone
Have posted before and got some good feedback and advice, so am hoping someone can do the same with this question:
Am returning to Ireland after 18 years abroad ( had resident status there). If I bring back my savings, and any money from a divorce settlement , and lodge them into my BOI account, are they in any form liable for tax. Don't ask me what kind! - no idea, but it just seems that in Ireland now, ANY money you have is taxed in one form or another!!
Much obliged.
Marylou
 
I don't believe that you are liable for any tax at all simply by bringing money back to Ireland. I presume that you have discharged any liabilities abroad but this is not a concern of the Irish tax authorities. The standard [broken link removed] checks will apply on large transactions but this is normal practice.
 
I think the answer is governed by your residency status and any double tax agreement (DTA) between Ireland and Japan.

If the amount invloved is significant, you should probably consider getting professional advice.
 
Not too sure on this but I can't see why you would have any Irish tax to pay. I think its worth getting tax advice though given that the sum probably is substantial enough.
 
Any capital brought into Ireland on your return (having been resident abroad) is not taxable in Ireland.

I presume that you have discharged any liabilities abroad but this is not a concern of the Irish tax authorities.
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Re the above, this is not necessarily true - some foreign jurisdictions (such as UK) do hold powers to collect unpaid taxes through the Irish Revenue. I have never yet seen this happen, but I have seen written threats to do so by the UK authorities.
 
Domo said:
Re the above, this is not necessarily true - some foreign jurisdictions (such as UK) do hold powers to collect unpaid taxes through the Irish Revenue. I have never yet seen this happen, but I have seen written threats to do so by the UK authorities.
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I stand corrected so.
 
To all above:
Many thanks for the time and info. Will be investigating it further.
Cheers Marylou
 
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