what section of form 11 have you put this in under?Daheff ,Instead of ETFs, My Rabo offshore fund was described as UCITS, or Luxembourg based SICAVS, for CGT on form 11. Hope this helps.
The funds distributed by Rabo were not ETFs.
In any event, your gains are taxable at 41% and should be reported on Form 11 (line 322(c)).
So you stand over your assertion that 80% of Revenue staff are incompetent?
That would be my experience based on 20 years of experience.
That would be my experience based on 20 years of experience.
While we're at it, since a majority of Revenue audits (80% of which are conducted incompetently if your assertion is correct) result in additional liabilities due from taxpayers, what do you think that says about competence across the accounting/tax profession?
We’ll leave it there, thanks, on the basis that:
- You think that a statistic relating to all Revenue staff would also apply to Revenue auditors.
- You think that the majority of additional liabilities uncovered during Revenue audits are the fault of tax advisors/accountants.
(Both ludicrous views)
Agreed on the non user friendly regime. Can't really give out about Revenue as I may have contributed to the confusion with original return....but i do think they should have a little better idea of what to do. The ETF/UCITS guidance doc should really state where each type of fund is to be advised (eg which form/line).Anyhoo...
I hope it's uncontroversial to say that the administration of our investment fund tax regime is not exactly user-friendly and that the OP's experience with Revenue thus far has been far from ideal (to put it mildly).
I think that's a shame.
As a sorbet to cleanse your palate, I will leave you with a statistic. Revenue employ just under 6,000 people. Last year, 12 of them completed the Chartered Tax Adviser qualification.
You can use panel E322 for gains arising on the (actual) disposal of an interest in an Irish domiciled ETF and F409 for gains arising on a deemed disposal (under the 8 year rule).
Why would one do that?!
Interesting; I was advised to include it in 409 as a deemed disposal.
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