A non-domiciled individual is liable to Irish CGT on the remittance basis of taxation. This means that the non-domiciled individual is liable to Irish CGT on gains from the disposal of Irish assets and on gains from the disposal of foreign assets to the extent that the gains are remitted to Ireland.
If a non-domiciled individual structures his/her investments in an appropriate manner the remittance basis of taxation can lead to significant tax savings.
Typical Problems that we come across
A non-domiciled individual can avail of the remittance basis on gains on the disposal of foreign (i.e. non-Irish) assets. Sometimes a non-domiciled individual might invest in Irish assets or remit the gain on disposal of foreign assets to Ireland. Such actions would mean that the benefits of the remittance basis would not be realised.
How We Can Help
Over the years our team of tax experts has an in depth understanding of the legislation and practice surrounding the remittance basis of taxation. We can guide you through the legislation and help you to take advantage of the remittance basis of taxation.
