How to complete Revenue Tax Form

The acquisition of an investment in a offshore fund will bring all individuals (inc. PAYE) within the "Self Assessment" regime and in this regard, they would have to make a tax return for the tax year in question. Details of the acquisition including the name and address of the offshore fund, the date the interest in the fund was acquired, the amount of capital invested in acquiring the interest and the name and address of the intermediary - RaboDirect - through whom the investment was acquired) should be made on Form 11 under Sections 318, (g), (h), (i) and (j).

To report gains made:

1. You must fill in Form 11 with your reported gains in the relevant tax year. 
    Download Form 11 from the Irish Revenue website

2.  On page 13 Section 318 Offshore funds you must complete

-  Sections 318 (e). Gains on all RaboDirect funds are reported here.
   View a screenshot of the form

For example: If you invested €1,000 in the Blackrock Merrill Lynch India fund on 30th June 2009. You sell the investment in November 2009 and make €100 profit. You must now disclose and make payment of this gain to the Revenue before 31st of October 2010. With regard to the offshore fund in the example as the interest was acquired during the 2009  tax year details of the acquisition would need to be filed on the following basis.

(e) Gain taxable*

You enter the amount of the taxable gain, in this case €100.

*Based on current tax legislation, any gains made on investment funds will be taxed at 28% on sales concluded up to 31 December 2010. From 1 January 2011 onwards, any gains made on investment funds will be taxed at 30%.

(g) Registered name and address of offshore fund:

Found in the Fund Prospectus
Blackrock Merrill Lynch India Fund
Aerogolf Centre,
1A Hoehenhof,
L-1736 Senningerberg,
Grand Duchy of Luxembourg.

(h) Date material interest was acquired:

30th June 2009 

(i) Amount of capital invested in acquiring the material interest

€1,000 invested with an entry fee of 0.75% (enter total amount inclusive of costs incurred on acquisition.  Assuming that the 0.75% fee came off the initial investment - i.e. €992.5 was ultimately invested in fund shares - then €1,000 would be the cost of acquisition.)

(j) Name and address of intermediary (if any) through whom the material interest was acquired

RaboDirect, 
Charlemont Place, 
Dublin 2

3. It is important to keep any supporting material you have used to calculate your tax liability. Under current tax law you would be required to retain copies of such material for a period of six years from the end of the calendar year in which the return is submitted.

Learn more about the Taxation of our Funds