B1e2r3n4a5rd
Registered User
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- 22
If one buyes and subsequently sells particular shares in the US and make a profit one has to pay Capital Gains tax in Ireland if one resides in Ireland .
It may only be notional profit because you might be loosing on oher shares .
That is how I understandit it is to operate.
Wher you buy the shares you must first but U.S. Dollars with Euro and when you sell you must buy Euros with dollars.
My question is does one have to convert the currency like this when calculating the Gain or Loss in Euro even if you do not convert the currency? Does one theoritecly convert the corrency at these rates even if the cash stayes abroad.
Does one use the bank rate for buying and selling the currency in order to calculate the Gain or Loss for tax purposes?
It may only be notional profit because you might be loosing on oher shares .
That is how I understandit it is to operate.
Wher you buy the shares you must first but U.S. Dollars with Euro and when you sell you must buy Euros with dollars.
My question is does one have to convert the currency like this when calculating the Gain or Loss in Euro even if you do not convert the currency? Does one theoritecly convert the corrency at these rates even if the cash stayes abroad.
Does one use the bank rate for buying and selling the currency in order to calculate the Gain or Loss for tax purposes?