Irish tax resident and non-domiciled

Hi

Long time lurker, first time poster. I am UK domiciled (grew up there until 25 to UK parents) and tax resident in Ireland for past few years.

I am interested in opening an online broker account to buy ETF's for long term investing.

If the funds are not domiciled in Ireland (probably Luxembourg) and I do not remit the money to Ireland - does this mean I do not need to declare to revenue?

Thanks,
onfire

Any UCITS fund irrespective of where the fund is domiciled is taxable in Ireland and doesn’t qualify for remittance.

Feel free to contact me for further guidance

Hi @Marc

I just created my account yesterday so I don't think AAM lets me contact you via PM. Can you try and message me first?

Thanks

Thanks @Marc - I sent you a message

Does anyone know examples of funds that qualify for the remittance basis of assessment for non-domiciled individuals?

It was in previous posts:

1. Regulated funds domiciled within the EU/EEA or any OECD country (including the US) with which Ireland has a Double Taxation Agreement are treated as offshore funds. Gains arising on the disposal of such funds do not qualify for the remittance basis of taxation. This includes (but is not limited to) UCITS authorised investments within these countries.

2. Irish and EU domiciled Exchange Traded Funds (ETF’s) are subject to the offshore fund regime and gains arising on the disposal of such funds do not qualify for the remittance basis of taxation.

3. ETF’s domiciled in the US, and other OECD countries are NOT treated as offshore funds and are subject to mainstream income tax (including USC and PRSI) and capital gains tax. Therefore, the remittance basis is available.

4. Unregulated offshore funds domiciled in the EU/EEA or any OECD country with which Ireland has a Double Taxation Agreement, are subject to mainstream income tax (including USC and PRSI) and capital gains tax. Therefore, the remittance basis is available.

5. Direct investments in foreign/ non-Irish equities are subject to main stream taxes, including income tax (and USC and PRSI) on dividend income and capital gains tax on gains. Therefore, the remittance basis is available.

6. Irish investments (in Irish domiciled funds or Irish equities) should be avoided as any income and gains would not qualify for the remittance basis.