Real Estate /
property in Lodz - anyone any experience [102]
Have I got this correct?
No Charlie, at the moment it's a flat rate of 19%. See Michael C post above.
Note also there is a double tax agreement between Ireland and Poland. If you pay 19% CGT tax in poland , it will be credited against your 20% CGT liable in Ireland if you return the money. You will only then have to pay the balance of 1%.
If you wait 5 years in poland before selling , you will be liable for 0% CGT. But on return to Ireland you will pay the full CGT of 20%. Either way it makes no difference you end up paying 20% total anyway.
Of course if you reinvest your gain in poland you avoid CGT, but evenually you will want it back sometime so 20% is the bottom line.
Have I got this correct?
No Charlie, at the moment it's a flat rate of 19%. See Michael C post above.
Note also there is a double tax agreement between Ireland and Poland. If you pay 19% CGT tax in poland , it will be credited against your 20% CGT liable in Ireland if you return the money. You will only then have to pay the balance of 1%.
If you wait 5 years in poland before selling , you will be liable for 0% CGT. But on return to Ireland you will pay the full CGT of 20%. Either way it makes no difference you end up paying 20% total anyway.
Of course if you reinvest your gain in poland you avoid CGT, but evenually you will want it back sometime so 20% is the bottom line.
