Tax return on foreign property rental

[margaret1]

Hi,
I am completing a tax return on rental income from a property Hungary. There is a double taxation system in place and I have forms from the management company stating the HUF amt of tax paid on my behalf to the APEH. My questions are: Do the Irish revenue require a euro statment of tax paid? Do I still pay preliminary tax for 2010 to the Irish Revenue and is this adjusted or refunded at the end of 2010 when I receive confirmation of the tax I paid in Hungary for the year 2010?

 

[Gervan]

The Irish Revenue do require all returns to be in Euro, so you will have to convert from HUF.
The Hungarian tax year is from 1st Jan to 31st Dec, like ours. which will make it easier for you to work out any Irish tax liability. If the preliminary tax you pay to the Irish Revenue is more than your eventual liability, the balance will be refunded.

 

[margaret1]

Thanks Gervan