The withdrawal of a property from a Local Lodging tourist activity was already potentially subject to capital gains assessment under previous legislation. However, the way the law was drafted left room for doubt as to the exact point that the tax would be due. In the 2018 State Budget, this doubt was clarified, making it unambiguous that there is deferred payment of capital gains tax when the property is further assigned on an ongoing basis to income from category F (long-term rental). Without this abeyance, a Capital Gain may be attained in the year of cessation of the business assignment. Regardless, reporting is done in your annual “IRS” return.
The European Commission is developing a pan-European Pension Product (PEPP): a simple and cost-effective retirement plan which will be portable across EU member states. The PEPP will be designed to give hundreds of millions of savers throughout the EU more choice where currently options are often few and far between. It will also create new growth opportunities for pension providers to take advantage of a European single market for personal pensions estimated to grow to 2.1 trillion Euros over the next decade, as reported recently in the Financial Times.