US ETFs no longer purchasable in Europe

forgive my ignorance but its one thing not being able to buy anymore , will those of us who currently own u.s domiciled etf funds be forced to close out our positions ?

ive over 150 k stuck in two of these things

they are

VEA
EZU
 
RobFer said:
Does that mean they lose out on customers from across Europe and Canada?
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No. My understanding is that Vanguard sells equivalent ETFs which are Europe-domiciled (generally in Ireland) so customers can buy those instead and get the same (pre-tax) returns. So for most European customers who are taxed the same way on US and European ETFs, there is no major difference so this change is not a big deal anywhere else - which is probably why Vanguard and others can't be bothered producing the documentation just for the Irish audience when the rest of Europe is happy to switch to similar but Europe-domiciled ETFs.
 
orka said:
No. My understanding is that Vanguard sells equivalent ETFs which are Europe-domiciled (generally in Ireland) so customers can buy those instead and get the same (pre-tax) returns. So for most European customers who are taxed the same way on US and European ETFs, there is no major difference so this change is not a big deal anywhere else - which is probably why Vanguard and others can't be bothered producing the documentation just for the Irish audience when the rest of Europe is happy to switch to similar but Europe-domiciled ETFs.
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If anything there's probably an incentive for Vanguard, iShares etc. not to bother - the TERs for their UCITS ETFs are generally higher than equivalent US-domiciled ETFs they offer, so they make more although in fairness it's probably more expensive to comply with the UCITS regime. The EU ETF market would also be, at a guess, significantly smaller than the US market, so they don't get the same economies of scale.
 
How about we set up a petition to ask the government to scrap the crazy tax rules?
 
AJAM said:
How about we set up a petition to ask the government to scrap the crazy tax rules?
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good luck with that one, if they made any slight change to benefit investors saving for the rainy day, they would have every sinn fein td along with ruth coppinger et al jumping up and down
 
AJAM said:
How about we set up a petition to ask the government to scrap the crazy tax rules?
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joe sod said:
good luck with that one, if they made any slight change to benefit investors saving for the rainy day, they would have every sinn fein td along with ruth coppinger et al jumping up and down
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I've been thinking about this a lot lately - if it was framed in a way to say that the current housing crisis is partially due to the tax regime, it might fall on a sympatheitc ear.

e.g. current Irish tax policy discourages people from saving for the future using equities in the stock markets, investment funds etc., and instead encourages people to invest in property. In order to see reasonable gains it involves price gouging of their fellow citizens and neighbours, rather than taking a fair dividend from multinationals. Reform the tax approach to make it fairer to people who want to save for the future, and free up residential property for purchase by first time buyers and professional high quality REITs.
 
Sarenco said:
I don't think everybody would agree with that conclusion -
https://www.askaboutmoney.com/threads/tax-take-on-rental-income-is-staggering.200198/
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Good point. Maybe it's fairer to say that current Irish tax policy discourages any form of personal responsibility or attempts to better one's position in life by discouraging saving, investing, self-employment/entrepreneurship and trying to increase one's income. Ironically we seem to be perfectly happy to encourage vested wealth with our no CGT on PPRs, and our comparatively generous inheritance tax allowances.

It's almost as if economic and tax policy was being set by a bunch of former teachers and landowners, and by civil servants with guaranteed pensions...
 
Sherman said:
Good point. Maybe it's fairer to say that current Irish tax policy discourages any form of personal responsibility or attempts to better one's position in life by discouraging saving, investing, self-employment/entrepreneurship and trying to increase one's income. Ironically we seem to be perfectly happy to encourage vested wealth with our no CGT on PPRs, and our comparatively generous inheritance tax allowances.

It's almost as if economic and tax policy was being set by a bunch of former teachers and landowners, and by civil servants with guaranteed pensions...
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That is a fair statement all tax policy is built around vested lobby groups,Whole industries have grown up around economic and tax policy.We are now beginning to see the results of the changes made to guaranteed pensions in 1995,

The people now taking over are beginning to target the very same groups there predecessor protected and you can already hear the whinging starting,

A lot of what was given away will now have to be taken back .
New landlords along with other groups are paying the price ,

2008 was a watershed people took a very close look at how they were treated the first chance they got the took there revenge any politicians that survived know the game is up
 
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joe sod said:
good luck with that one, if they made any slight change to benefit investors saving for the rainy day, they would have every sinn fein td along with ruth coppinger et al jumping up and down
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I don't like the policies of sinn fein or Ruth Coppinger ,I don't think they make one bit of difference to government tax policy they fear the earned income taxpayer more than the fear the unearned income tax payer who vote ff/fg/ labour/Independents,

A section of there own supporters are keeping a better eye on them than Ruth or Gerry and can/will do more about it when the time comes,
 
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Gordon Gekko said:
Potentially.

My concern is that prudent folk who are currently paying into a pension will somehow be rogered and made to pay for the recklessness of others.
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And the sad part is FF/FG/Labour are after there votes watch this space,These are the parties who hold clinics every week to look after the reckless in return for there vote,The power struggle now is between FF and FG on who is going to look after this group the best and get there vote for a change FG are winning this battle hands down,
 
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Gordon Gekko said:
Potentially.

My concern is that prudent folk who are currently paying into a pension will somehow be rogered and made to pay for the recklessness of others.
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You mean that the state pension will be denied to people with private pension above a certain level even if they paid PRSI all their working lives.
 
joe sod said:
You mean that the state pension will be denied to people with private pension above a certain level even if they paid PRSI all their working lives.
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joe sod said:
You mean that the state pension will be denied to people with private pension above a certain level even if they paid PRSI all their working lives.
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I don't believe any government will ever again take on the prsi paying paye taxpayer I am old enough to remember what started the tax marches back in 1982
when the government of the day increased prsi from around 15% to 19.1% it was payable on all low income then ,If any of you are old enough to remember this is why tax prsi relief on income tax was brought in to try get prsi paying taxpayers back on side.

another reason why they will never ever be able to touch paye paying taxpayers prsi pension is because in 1995 when they brought in the new public service pension the deal that was struck between unions and goverment was the government makes up the shortfall between the prsi pension and 50 %of final salary if they had full service

We in the private sector have a lot to thank the public sector for ,

no way would they be able to take it off one group paying the same prsi just because one is a private pension not a hope in hell of any government trying that one on they know who they will be dealing with they still have nightmares from 1982 they main parties never fully recovered since prsi workers took to the streets back in 1982,
It was the start of the floating Vote all of the main parties are now chasing,

The main parties have two sets of core supporters one set vote them in and pay the most tax high earners and people with unearned income they then take there tax and feed it to there other core group/supporters who want to pay for nothing,

The people who brought in the changes were paying less than 2% prsi under another prsi band in 1982 and were still paying 2% until the USC came in 2012/13

I just checked prsi rates for 1982 went from 14.8% to 19.1% of paye income/payroll in the private sector
 
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joe sod said:
You mean that the state pension will be denied to people with private pension above a certain level even if they paid PRSI all their working lives.
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Potentially; or a pension levy style land-grab against people with decent private pensions to pay for the recklessness of others.
 
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