Crypto withdrawal but haven't lived in Ireland for 4 years

[lethiminyourheart]

I haven't lived in Ireland for 4 years but want to withdraw crypto to my Irish bank accounts. Will revenue be looking for some CGT?

Will be looking for some financial advice but would like some thoughts

 

[stefan612]

@lethiminyourheart they can come looking for it if they want but they won’t be entitled to it as long as you’ve been a tax resident in your new country for the last 4 years, anyway

it’s the same vice versa. if you buy crypto while resident in a country that doesn’t tax crypto gains, then you move to ireland and become tax resident here and sell your crypto, you’ll pay irish taxes on the gains

 

[lethiminyourheart]

@stefan612 Super, So if i am tax resident in a country different from Ireland. Does revenue send the tax authority my details?

 

[stefan612]

@lethiminyourheart depends on the country. but yes a lot of information gets shared, especially in Eu

 

[xtianjax]

@lethiminyourheart There is information sharing depending on the country. Where are you tax resident?

 

[lethiminyourheart]

@xtianjax How do I find that out?

 

[xtianjax]

@lethiminyourheart Which country are you living in? I mean which country have you spend the last year in.

 

[jen2174]

@lethiminyourheart You will be liable in your current country in which you are resident, not in Ireland. Revenue depts in first world countries EU, US, UK, Aus etc do share tax information. Take it from someone who was caught out with that exact situation, pay what you owe. With penalties and late interest I had to pay roughly double the original debt. 10k is way over the CGT allowance in Ireland...and would be in most countries.

 

[acewoodson]

@lethiminyourheart How likely are they to come looking for CGT on amounts under 10K?