Tax Rate on Foreign Income

SkippyOD

Registered User
Messages
73
I have emailed the revenue on this but have yet to get a reply from their Direct Taxes Interpretation & International Division.

I enquired as to the level of tax due on foreign income, outside of my salary (on secondment so don't pay any). The revenue website mentions that a value of 3800 euro can be earned tax free but anything above that and the entire amount is taxable. Can anyone tell me what the rate is?
Also if I return to Ireland and resume resident status but maintain my foreign investments am I still entitled to bring in this 3800 euro tax free?
Also when I return home and wish to bring my savings from salary earned back with me, is there a level above which I need to show proof of earnings/salary and who will request this?

If anyone has any information then I'd appreciate it.

SOD
 
The rates payable would be the standard income tax rates - 20% up to low rate threshold (€34k for single person) and 41% above that.

If you return to Ireland and are therefore resident and domiciled (i'm presuming you're from Ireland originally) you would be taxable in full on your worldwide earnings and wouldn't have any tax free entitlement for foreign income.

If you are returning and bringing savings back with you, there is no requirement to show proof to anyone (unless you're bringing it back in cash in which case you may have to make a declaration to customs at the airport!). If you have a routine revenue audit at any point they may want backup information on the foreign income that you are claiming an exemption on.
 
Thanks for the info. My concern was/is that if I leave a significant portion of my salary in foreign investments that in the future when I wish to cash it in the entire sum will be seen as foreign income earned while resident in Ireland and therefore taxable. My records aren't in the best shape so I'll have to get on top of that.

Do you know whether for Irish residents foreign income earned,withdrawn, and spent while outside of Ireland is taxable, not having being remitted to Ireland and all?

Having made the move into expat life it is tempting to just keep going for a bit longer...