{"id":14115,"date":"2021-07-27T17:16:11","date_gmt":"2021-07-27T16:16:11","guid":{"rendered":"https:\/\/www.ccpc.ie\/consumers\/?page_id=14115"},"modified":"2021-09-13T10:46:04","modified_gmt":"2021-09-13T09:46:04","slug":"taxes-and-charges","status":"publish","type":"page","link":"https:\/\/ccpc.inventise.ie\/consumers\/money\/investing\/taxes-and-charges\/","title":{"rendered":"Taxes and charges"},"content":{"rendered":"<h3 id=\"taxes\">Taxes<\/h3>\n<div class=\"toptip\">\n<h3>Top Tip<\/h3>\n<p>Before you invest, you should be provided with a written document outlining the taxes you will be liable to pay.<br \/>\n<\/div><\/p>\n<p>Before choosing an investment, make sure you understand exactly what the tax bill will be on any profit you make. The rate of tax you may be liable for will depend on the type of investment product you have, as well as other factors such as:<\/p>\n<ul>\n<li>where the fund you invested in is based i.e. is it an Irish or foreign <span class='tooltipsall tooltip_post_id_custom_b3e86a071bab7bb5c0b21f04957ca0a4 classtoolTipsCustomShortCode' style='border-bottom:2px dotted #888;'>fund<\/span><script type=\"text\/javascript\">jQuery(\"document\").ready(function(){ toolTips('.tooltip_post_id_custom_b3e86a071bab7bb5c0b21f04957ca0a4','Taxes on foreign investments can be extremely complex\\. Make sure you seek financial advice on what taxes you are liable to pay\\.'); });<\/script><\/li>\n<li>how the fund is structured<\/li>\n<li>the extent to which you may be <span style=\"font-weight: 400;\">exempt from tax on returns or may be able to reclaim tax deducted from the profit you made<\/span><\/li>\n<\/ul>\n<p>Below is a list of common investment taxes that apply to Irish investments. Before you invest, talk to your financial adviser about what exact taxes apply to the investment, when they have to be paid and if you can apply for any tax relief or exemptions. You can also get more information on <a href=\"https:\/\/www.revenue.ie\/en\/Home.aspx\">revenue.ie<\/a>.<\/p>\n<p>If you are buying investments directly without financial advice, it may be useful for you to seek advice from a tax expert about your requirements.<\/p>\n<div id=\"accordion-1\" class=\"accordion no-js\"><\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-1-t1\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-1-c1\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tCapital Gains Tax\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-1-c1\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>Capital Gains Tax is a tax you pay on profits from the sale or disposal of certain assets, such as shares, bonds and property. The current rate in Ireland is 33%.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-1-t2\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-1-c2\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tExit Tax\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-1-c2\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>Exit Tax is a tax you pay on any profit you make on a plan with a life insurance company. If no profit is made on the plan, you do not pay any tax. The current rate in Ireland is 41%.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-1-t3\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-1-c3\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tDividend Withholding Tax\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-1-c3\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>If an Irish company decides to pay dividends on shares i.e. part of the company\u2019s profits to shareholders, the dividend may be liable to Dividend Withholding Tax. The current rate on Irish shares is 25%.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-1-t4\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-1-c4\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tDeposit Interest Retention Tax (DIRT)\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-1-c4\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>DIRT is a tax you pay on any interest you earn from money you keep in deposit accounts or tracker bonds. The current rate of DIRT in Ireland is 33%.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p><\/div>\n<p>In some circumstances, the profit you make may also be subject to USC, PRSI or income tax.<\/p>\n<h3>Charges<\/h3>\n<div class=\"toptip\">\n<h3>Top Tip<\/h3>\n<p>Before you invest, you should be provided with an information document setting out all the fees and charges you will be liable to pay.<br \/>\n<\/div><\/p>\n<p>Before investing, make sure you fully understand the fees and charges that you will have to pay. Some charges can be once off, while others may be charged on an ongoing basis and can significantly reduce the value of your investment.<\/p>\n<p>Below is a list of common fees and charges that apply to Irish investments. Before you invest, talk to your financial adviser about what exact fees and charges you will be liable to pay and when they will be applied to your investment.<\/p>\n<div id=\"accordion-2\" class=\"accordion no-js\"><\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-2-t1\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-2-c1\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tEntry charges\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-2-c1\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>Entry charges are one-off costs that you may pay on certain investments. Entry charges are generally charged as a percentage of the amount you invest.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-2-t2\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-2-c2\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tExit charges\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-2-c2\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>Exit charges are a one-off cost that you may pay when you end your investment. Exit charges are generally charged as a percentage of the fund value.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-2-t3\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-2-c3\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tOngoing charges\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-2-c3\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p><strong>Fund management\/administration charges<\/strong><\/p>\n<p>Fund management\/administration charges are fees for the administration of the fund and other services such as maintaining a record of your investment, calculating the value of the fund each day and providing ongoing advice. These fees are generally charged annually and are applied regardless of whether the fund performed well or not.<\/p>\n<p><strong>Performance fees<\/strong><\/p>\n<p>A performance fee is charged if the investment generates a profit. A performance fee can be calculated in many ways, but the most common is as a percentage of the investment profit made.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-2-t4\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-2-c4\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tEarly encashment fee\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-2-c4\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p>An early encashment fee is a penalty you may be liable to pay if you cash in your investment before it matures.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p>\n\t\t\t\t\t<h3 role=\"button\" id=\"accordion-2-t5\" class=\"accordion-title js-accordion-controller\" aria-controls=\"accordion-2-c5\" aria-expanded=\"false\" tabindex=\"0\">\n\t\t\t\tCommission\t\t\t<\/h3>\n\t\t\n\t\t<div id=\"accordion-2-c5\" class=\"accordion-content\" aria-hidden=\"true\">\n\t\t\t<\/p>\n<p><span class='tooltipsall tooltip_post_id_custom_52e58a58161d60778615ab3d350e5a5c classtoolTipsCustomShortCode' style='border-bottom:2px dotted #888;'>Commission<\/span><script type=\"text\/javascript\">jQuery(\"document\").ready(function(){ toolTips('.tooltip_post_id_custom_52e58a58161d60778615ab3d350e5a5c','Did you know\\?\\<br \\\/\\><br\/>Financial advisers providing independent investment advice cannot accept and retain fees, commissions, or any monetary or non\\-monetary benefits from the business they sell investment products on behalf of\\.'); });<\/script> is where a financial adviser receives payment or a bonus from the business whose products they sell. However, this is usually built into the overall amount you pay. Read more <a href=\"https:\/\/ccpc.inventise.ie\/consumers\/money\/getting-financial-advice\/financial-advice-the-costs-involved\/\">here<\/a>.<\/p>\n<p>\t\t<\/div>\n\n\t\t<\/p>\n<p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Taxes Top Tip Before you invest, you should be provided with a written document outlining the taxes you will be liable to pay. Before choosing an investment, make sure you understand exactly what the tax bill will be on any &hellip;<\/p>\n","protected":false},"author":207,"featured_media":0,"parent":14100,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"tags":[],"class_list":["post-14115","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Taxes and charges - CCPC Consumers<\/title>\n<meta name=\"description\" content=\"The Competition and Consumer Protection Commission is an independent statutory body that enforces competition and consumer protection law in Ireland\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taxes and charges - 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