How to plan for Irish inheritance tax on Indian ancestral property?
Indian origin, Irish citizen query. How to effectively plan for Irish inheritance tax on indian property from parents/ ancestors.
India has no inheritance taxes and wealth and assets can be passed from generation to generations easily .Assets are based in India.
Incase we want to bring the money to Ireland after selling it in India, we need to pay taxes in Ireland also.
Ireland has very high tax rates for inheritance and we can't effectively pass ancestral items to our next generation.
Tax free threshold is only 400k € which is very low.
So laymen terms speaking...basically any indian origin person cannot even leave a house or flat to their kids ( without taxes in Ireland) , any amount beyond 400k will be taxed.
u/Feeling_Possibility4 — 13 hours ago