The remittance basis of taxation is a special tax treatment that applies to non-Irish domiciled individuals who are resident in Ireland. Under this basis, you are only liable to Irish tax on income that you bring into Ireland. This means that you can earn income from sources outside of Ireland, such as foreign rental income, dividend income, or interest income, without having to pay Irish tax on it as long as you do not bring that income into Ireland. The remittance basis of tax also applies to foreign capital gains for non-domiciled Irish residents. In other words, if eligible, you only pay Irish capital gains tax on foreign gains if you remit them to Ireland.

The remittance basis of taxation can be beneficial for non-Irish domiciled individuals who have significant foreign income or assets. By using the remittance basis, you can defer Irish tax on that income until you actually bring it into Ireland. This can save you a significant amount of money in tax.

Domicile in Irish tax law is a complex concept that is based on a combination of factors, including your place of birth, nationality, habitual residence, and the intention to make Ireland your permanent home. Domicile is a legal concept that determines a person's permanent home, regardless of their current place of residence. It is distinct from residence, which is based on the number of days a person spends in a country. Domicile is also different from nationality, which is a person's legal citizenship. There are two main types of domicile: domicile of origin and domicile of choice. Domicile of origin is the domicile you are born into. It is usually the same as your father's domicile at the time of your birth. Domicile of choice is the domicile you acquire by living in a new country with the intention of making it your permanent home. This requires a clear intention to reside permanently and a willingness to sever ties with your previous domicile. Your domicile of origin is generally difficult to change. However, you can acquire a domicile of choice if you meet the following criteria: Physical presence: You must have lived in the new country for a significant period of time. The exact amount of time required varies from case to case, but it typically involves several years of continuous residence. Intention to stay permanently: You must have a genuine intention to make the new country your permanent home. This intention must be evidenced by your actions and circumstances. Disavowal of previous domicile: You must either have no connection to your previous domicile or must have taken steps to sever those ties. This may involve selling property, closing bank accounts, and dissolving any legal or social connections to your previous home country. In Irish tax law, domicile is important because it determines whether you are liable to Irish tax on your worldwide income. If you are domiciled in Ireland, you will be taxed on your worldwide income, regardless of where you earn it. However, if you are non-Irish domiciled, you may be able to use the remittance basis of taxation, which means you will only be taxed on income that you bring into Ireland. The remittance basis of taxation is generally more favorable for non-Irish domiciled individuals with significant foreign income or assets. However, it is important to note that the remittance basis is not available to everyone. You must meet certain criteria to qualify for the remittance basis.

A mixed fund is a type of investment fund that contains both Irish-sourced and foreign-sourced assets. The tax treatment of mixed funds can be complex, as you may need to pay Irish tax on the Irish-sourced assets, even if you do not bring the income from those assets into Ireland. A 'Mixed fund' is a foreign bank account that contain a combination of income from different sources or from different tax years. Imagine you have a piggy bank where you put money you earned from a lemonade stand, your weekly allowance, and a birthday gift. If you don’t keep track of which money came from where, it’s like a mixed fund. In tax terms, this can be important because different types of income/gains might be taxed differently, and income/gains from different years might fall under different tax rules. So, it’s like needing to know which coins in your piggy bank came from the lemonade stand and which ones were gifts, especially if they need to be counted differently. RemitEase aims to solve the problem of mixed funds for non-domiciled individuals.