New Irish Tax Boutique launched
The first Irish tax firm solely dedicated to submitting tax returns in foreign jurisdictions for Irish individuals with properties abroad was launched yesterday.
Foreign Tax Returns Ltd can now assist the estimated 200,000 Irish property owners in Spain, France, Portugal and the UK.
The Irish Revenue’s offshore assets group have indicated that this is an area they will be targeting as there is thought to be almost 75,000 non tax compliant Irish property owners alone in Spain alone.
The number of Irish people with homes abroad is seen as an area of major growth with conservative estimates at between Euro5bn and Euro6bn being invested by Irish individuals in 2006 including at least 3% of maturing SSIA’s or Euro495m are forecasted to be invested in foreign property.
Former tax executives Willie Kearney and Barry O’Donnel have set up the new tax firm.
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