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Where Taxpayers and Advisers Meet

uk/ireland double taxation changes 2008

funcrusherbill
Posts:106
Joined:Wed Aug 06, 2008 3:10 pm

Postby funcrusherbill » Thu Mar 06, 2008 8:53 am

In Dec 07 The irish government outlined changes effective from 1 Jan 08 as a result of EU intervention. I believe that the UK has/will reciprocate. Can anyone clarify how these will operate in practice? Previously undere the double tax agreement,UK deposit interest of an Uk domiciled/irish resident was taxed only in Ireland, irrespective of whether remitted. It appears that henceforth the remittance basis will apply. So what will be the UK tax position, under the EU savings directive? Is there going to be a separate UK tax liability imposed, which can be off-set against irish tax if the interest is remitted? And if it is not remitted, will it be tax-free, or taxed subject to personal allowances etc, or what?

lxm3
Posts:14
Joined:Wed Aug 06, 2008 3:54 pm

Postby lxm3 » Sun Mar 09, 2008 7:33 pm

as far as I know, a double tax agreement has always precedence over the local tax rules.


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