tax score to settle

I would like to settle an argument regarding the following: An overseas property, mortgage comes to term 2010. Owner wishes to sell (current value approx 240.000 eur) and transfer some funds here. The question is are these funds liable to tax or no?

Presumably any capital gain will be assessable for Irish CGT although there may be a credit for any foreign tax liability.

If the owner is resident in Ireland then yes he will have to pay capital gains tax on any worldwide capital gains. As said in the previous post there may be credit for any capitla gains tax already paid in the foreign county

transfer some funds here. The question is are these funds liable to tax or no?

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The full gain is taxable (less annual allowances and offsets for tax paid elsewhere), it doesn't matter whether some or all of the gain is brought into the country. Assuming of course (as Don says) the individual is tax resident in Ireland.

Would need to check domicile of individual - this would be relevant.

Domicile of the individual is here - but not on a permanent basis. Paying capital gains only if resident in the country is somewhat ambiguous here.
What happens if the individual is 'passing thru' for a 5 year or a 10 year period?

Domicile is key here - an individual's domicile is a legal issue - you can't become temporarily domiciled somewhere. Domicile in simple terms is where the individaul has his permanent home. E.g. and individual born say in the US, who has their family, investments, pension etc there, and comes to Ireland for a few years for an undetermined length of stay, but with the intention to return to the US, retains a US domicile while resident in Ireland.

(P.S. this is a very broad generalisation of domicile - you would need to get specialist advice to confirm an individual's domicile). PM me if you want more details.

An individual who is not domiciled in Ireland (but residnet) is taxable on gains arising outside the state (with the exception of the UK) only to the extent that the gains are remitted to Ireland.

Hope this makes sense.

[broken link removed] might be of interest in this context.

I was assuming that the individual was liable for Irish tax in the first place in my original post. Just in case there was any confusion about that.

Well put DOMO. I may come back to you on that as its not a straightforward case.