Noel Grealish (Galway West, Independent)
Link to this: Individually | In context | Oireachtas source

213. To ask the Minister for Finance if, in the event of a person over 70 years of age returning to Ireland from the United States of America, there is a cap on the capital funds transferred here; and if there is a tax liability on same; and if he will make a statement on the matter. [6729/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by the Revenue Commissioners that there is insufficient information provided to enable a conclusive answer to be given as to whether there is a tax liability in respect of the capital funds transferred here.  In general, any capital amount transferred into the country by a person who became resident here would not be subject to capital gains tax unless the amount was derived from the disposal of certain specified assets, for example, land or buildings situated in this country. However, that person would be liable to income tax in respect of any income arising from any such capital amount from the time that he or she became resident in this country.

I suggest that the enquiry should be directed to the Revenue District  dealing with the tax affairs of the person concerned.