Foreign domiciled individuals are eligible for the remittance basis of taxation in Ireland which means that foreign income and gains are not taxed in Ireland unless they are remitted here. This offers scope to foreign domiciled individuals to ensure they arrange their affairs efficiently to maximise this basis of taxation.
We can assist as follows:
- outlining the concept of ‘domicile’ and how this applies in your case (i.e. explaining whether you have an Irish domicile or not);
- reviewing your portfolio to ensure it is structured correctly to benefit from the remittance basis of taxation fully; and
- ensuring you understand the various rules relating to what constitutes a ‘remittance’ as outlined in Irish legislation.
Read our customer story on how we helped a foreign domicile couple with their tax position