Hi all, Can someone clarify this for me. I know gambling is tax free andin the UK currency trading is considered gambling and therefore also taxfree.
Ireland Guide: Taxes, Ireland Business Capital Gains Tax (CGT): Capital gains tax applies to the individual
But what about Ireland. Are profits from this considered gambling andtherefore tax free?
Lots of documents on the revenue site about this. It seems pretty clear but I will not interpret it for you.
Google for "capital gains on foreign exchange" to find more. The tax treatment depends entirely on the mechanism you use to profit from such movements.
Spread betting, holding currency, derivatives etc would not necessarily but subject to the same tax regimes in Ireland, despite all deriving benefit from the same underlying movements of exchange rates. Want to share your thoughts?
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