bunq Together

Irish non-domicile

New-Grey-Mare-2453908704

As Irish non-domicile resident, income earned outside of Ireland that hasn't been remitted, isn't taxable by Ireland.

Does that mean that if I open savings account in bunq and leave money there I don't need to report this income and pay Irish tax?

thijsoost

Gleb Not sure how it works in Ireland, but in the Netherlands your bunq balance is reported to the tax authorities automatically

Jo-

Hey Gleb 👋

Thanks for being part of our community! If you live in France, Ireland, Spain or Germany, you need to report the max balances and interest you’ve earned as foreign Bank Accounts. You need to do this regardless of whether your IBANs start with NL, FR, DE, ES or IE.

As Thijs stated, the Bank Accounts of Dutch users are the only ones that will be automatically declared in their online tax reporting. That’s why we want to make sure all other users from Germany, France, Ireland, and Spain report their Bank Accounts or interest gained throughout the year on time.

To report, you would need to go Form 11 through Revenue Online Service (ROS).

Check out this link for more info: https://together.bunq.com/d/28569 📚

If you have any more questions please don't hesitate to ask 🌈

New-Cyan-Goat-3628784028

Yes, but I think Gleb's point is another. Ireland has a non-domicie regime, whereas France, Spain and Germany don't. It's quite a unique law that Cyprus and Malta also have, the UK recently abolished it.
You can be an Irish tax resident and still be non-domiciled, which basically means you don plan to die in Ireland and at some point in your life you will move.
If you are non-domiciled, you are exempt of tax on some foreign income as long as you don't bring that money to Ireland (it's called the remittance basis). For example, UK dividends of shares you have in a Dutch broker and are paid into a Dutch account, when you never transfer that money to Ireland, you simply re-invest that money to buy more shares in that Dutch broker.
An Irish-born person couldn't benefit from this, as they are Irish-domiciled by definition. To move from non-domiciled to domiciled, you have to voluntarily self-declare as domiciled, which I will never do, as I'll move back to Spain sooner or later.
As you can see, it's a very Irish-unique thing that has nothing to do with France, Spain or Germany. Then, the question is where is your Bunq money and the interest you earn? Is it in Ireland if your IBAN is IE or is it in the Netherlands regardless of IBAN?
We live in a digital world, but the question of where that interest is "physically" paid is the key in this matter.