Passenger57
Registered User
- Messages
- 3
Hi,
I am an Irish Citizen but I have been working in the Gulf Region for almost 4 years so from my understanding I am no longer tax resident of Ireland.
In order to invest my Euro savings from my Irish bank account I recently opened an account with DeGiro with a view to putting some money into an all world index ETF over the next 3-5 years. I would then plan to sell before moving home to avoid any CGT liability.
I was looking at the VANGUARD FTSE AW ETF they offer commission free (assuming you purchase more than E1000 a month.)
I had some tax concerns so I sent an email to their client services with the question below:
"Do you deduct tax at source from dividends and future sales of investment holdings or is it the users responsibility to submit a tax return to Revenue themselves? Assuming the answers is yes (ie I am entitled to hold a Degiro account and you guys deduct tax at source) what supporting documentation do you need from me in order to prove my non-residence and avoid tax deductions on future potential dividends and sales of my chosen fund(s)"
I got the answer below
"Tax on dividend is charged at source by the tax authority of the country where the product is registered. Each authority will have its own regulation and tax threshold. Please contact the issuer, the relevant tax authority or a tax specialist for further information relating to this.
Please be aware Degiro is an execution only broker and therefore does not provide any advice on Tax rebates or other tax issues."
I am in the process of getting professional tax advice but I thought I would check with you good people as well.
If DeGiro withhold the tax at source how am I supposed to a) stop them from withholding CGT when the time comes to sell my ETF or b) any idea how I can claim it back when they do?
Appreciate any wisdom someone could send my way.
I am an Irish Citizen but I have been working in the Gulf Region for almost 4 years so from my understanding I am no longer tax resident of Ireland.
In order to invest my Euro savings from my Irish bank account I recently opened an account with DeGiro with a view to putting some money into an all world index ETF over the next 3-5 years. I would then plan to sell before moving home to avoid any CGT liability.
I was looking at the VANGUARD FTSE AW ETF they offer commission free (assuming you purchase more than E1000 a month.)
I had some tax concerns so I sent an email to their client services with the question below:
"Do you deduct tax at source from dividends and future sales of investment holdings or is it the users responsibility to submit a tax return to Revenue themselves? Assuming the answers is yes (ie I am entitled to hold a Degiro account and you guys deduct tax at source) what supporting documentation do you need from me in order to prove my non-residence and avoid tax deductions on future potential dividends and sales of my chosen fund(s)"
I got the answer below
"Tax on dividend is charged at source by the tax authority of the country where the product is registered. Each authority will have its own regulation and tax threshold. Please contact the issuer, the relevant tax authority or a tax specialist for further information relating to this.
Please be aware Degiro is an execution only broker and therefore does not provide any advice on Tax rebates or other tax issues."
I am in the process of getting professional tax advice but I thought I would check with you good people as well.
If DeGiro withhold the tax at source how am I supposed to a) stop them from withholding CGT when the time comes to sell my ETF or b) any idea how I can claim it back when they do?
Appreciate any wisdom someone could send my way.