A South American friend of mine plans to bring in approx. €50k to Ireland (it’s legimitate money - the proceeds from a house sale). He has paid taxes on it in his home country and intends to pay the taxes on it here (it would be subject to Capital Gains Tax). He has two questions in relation to this:
- Do the bank automatically inform the revenue when this money hits his account?
- If so, does he have to pay the CGT now or does he wait and pay it when he does his tax returns in Sept. / Oct. (He is a PAYE employee here in Ireland).
- Do the bank automatically inform the revenue when this money hits his account?
- If so, does he have to pay the CGT now or does he wait and pay it when he does his tax returns in Sept. / Oct. (He is a PAYE employee here in Ireland).