Tax on foreign Property 

There are many taxation implications of purchasing and owning a foreign property.

The main tax heads that you need to be aware of in Ireland and abroad are

• VAT
• Stamp duty
• Income tax
• Capital gains tax
• Capital acquisitions tax
• Corporation tax (If purchased through a company)
• Wealth taxes
• Transfer taxes

There are many considerations when purchasing a foreign property:

Tax Legislation and rates vary significantly from country to country. Ireland does have double taxation agreements with nearly 50 countries. These agreements cover all direct taxes. If there is no DTA you may be taxed twice on your rental income and capital gain.