Taxes Consolidation Act 1997 Schedule 2B, paragraph 10

Declarations of non-resident on acquisition of units

Paragraph 10 of Schedule 2B sets out the requirements for a valid declaration of non-residence that a unit holder must provide to an investment undertaking when acquiring units, in order to be exempt from exit tax.

• A person acquiring units in an investment undertaking who is not resident in the State may make a written declaration of non-residence to avoid the deduction of exit tax on gains.
• The declaration must be made by the person entitled to the units, signed by that person, and submitted on or about the time the units are acquired.
• The declaration must confirm non-residence at the time it is made, state the declarer's name and address, and be in a form prescribed or authorised by the Revenue Commissioners.
• The declarer must undertake to notify the investment undertaking if he or she subsequently becomes resident in the State, and must include any other information Revenue may reasonably require.