CGT on shares for non-resident

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paulie78

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Hi All,

I have been a non-resident of Ireland for the past 7 years.
I have over more than 10 years been accumulating shares in my company through my companies Share Purchase Plan, both while i was an employee in Ireland, and also for the same company while working abroad.

I recently sold 70% of the shares i hold, the broker remitted the funds to my Irish bank account.

Am i liable for CGT in Ireland considering the above?

Thanks in advance
 
Gift and inheritance tax is not relevant - the OP sold his shares

The liability to CGT will depend on the double taxation treaty, if any, between Ireland and your country of residence. Without further information on this, it is impossible to give any advice on possible CGT liabilities
 
Thanks, based on the below i guess not.. My company is a multinational software company, shares are publicly traded.

If you are non-resident in Ireland, you pay CGT on gains on the disposal of:
  • land, buildings and minerals in Ireland
  • exploration or exploitation rights in the Irish continental shelf
  • unquoted shares deriving the greater part of their value from:
    • land, buildings or minerals in Ireland
    • exploitation rights in the Irish continental shelf
    • assets which are used for the purpose of a trade carried on in Ireland.
Then maybe my question should be, as a non-resident, non-ordinarily resident, but domiciled in Ireland, and i have moneys remitted to Irish bank account, from the sale of above stocks have i any tax liability. My understanding is that the answer is not, but i may have missed something?
 
Also to jpd, I am based in China. Ireland and China have a double taxation agreement i do believe.
 
Extract from Double Taxation between Ireland and Republic of China - you don't say where you live in China, so ...

You can read the whole thing here [broken link removed]

CAPITAL GAINS

1. Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 and situated in the other Contracting State may be taxed in that other State.

2. Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such a fixed base, may be taxed in that other State.

3. Gains from the alienation of ships or aircraft operated in international traffic by an enterprise of a Contracting State or movable property pertaining to the operation of such ships or aircraft shall be taxable only in that State.

4. Gains from the alienation of shares of the capital stock of a company the property of which consists directly or indirectly principally of immovable property situated in a Contracting State may be taxed in that Contracting State.

5. Gains from the alienation of any property other than that referred to in paragraphs 1 to 4, shall be taxable only in the Contracting State of which the alienator is a resident.
Click to expand...
 
Thanks, i live in Shanghai.

I don't think point 4 applies, therefore my take on this is that i am only liable to CGT in my country of residence i.e China.
Anyway not being a tax accountant , ultimately i think i need professional tax advise
 
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