If you are living abroad and earn rental income from a residential property in Ireland you are in the Non Resident Landlord (NRL) category for taxation purposes.
As of 1 st July 2023, non-resident landlords, in Ireland will encounter a new way for processing the tax on their rental income. This is due to the introduction of the Non-Resident Landlord Withholding Tax (NWLT) system.
Additionally, they must appoint a Collection Agent or put in place an arrangement with tenants to pass 20% of the monthly rental charged to the Revenue Commissioners via the NWLT system.
A non-resident landlord must also file a tax return for any income earned, and pay any rental income tax for which liability exists.
For non-resident landlords in Ireland, by designating Prestige Property Consultants as your Irish-resident agent to take on the tax liabilities of your property the requirement to deduct 20% tax at source is not a current Irish Tax or Revenue necessity.
Prestige Property Consultants also offer a standalone Non-Resident Landlord Tax Collection Agent & Tax Return Service, as you may prefer to manage the property yourself or you may have an agent already in situ.
Non-resident landlords must report any Irish rental property income to Irish Revenue on a Form 11 each year. If the property is owned jointly, both spouses must file separate tax returns and disclose their share of the rent separately.