L Liamos Registered User Messages 127 5 Oct 2009 #1 Can anyone tell me what the tax consequences are of a person purchasing say $300,000 for €215,000 and then disposing of those dollars for lets say €230,000? Is it simply a case of paying capital gains tax on the profit of €15,000?
Can anyone tell me what the tax consequences are of a person purchasing say $300,000 for €215,000 and then disposing of those dollars for lets say €230,000? Is it simply a case of paying capital gains tax on the profit of €15,000?
J JJ2000 Registered User Messages 23 5 Oct 2009 #3 take a look at the following: [broken link removed]
D dubrov Registered User Messages 134 5 Oct 2009 #4 It seems harsh but from what JJ2000 posted, it appears that if ou actually bought the currencies then you are liable to CGT. If you did it as a spreadbet then you are exempt though. Seems to me it is pretty much a bet either way but I guess the revenue view it differently.
It seems harsh but from what JJ2000 posted, it appears that if ou actually bought the currencies then you are liable to CGT. If you did it as a spreadbet then you are exempt though. Seems to me it is pretty much a bet either way but I guess the revenue view it differently.