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Money transfer & Tax

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  • 18-10-2016 9:46pm
    #1
    srehgarh
    Registered Users Posts: 2 ✭


    Hi,
    I am currently living in Ireland for last 4 years (Stamp 1) and intend to transfer some money from my Irish account to my brother in UAE. And later, after few months he would transfer the money back to my Irish account. I just wanted to check whether this transaction has any tax implications when i get the money back in my account after few months.

    Would appreciate if someone can help with the above query.
    Tagged:


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    #2
    adrianw
    Registered Users Posts: 236 ✭✭adrianw


    If you are lending your brother some money - there are no tax consequences (ignoring any small amount of interest foregone).

    If it is some other arrangement then there may be.


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    #3
    srehgarh
    Registered Users Posts: 2 ✭srehgarh


    Thanks much Adrian for confirming. This is just a lending only.


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