US and foreign shares: Irish CGT and euro exchange rates

Value the purchase and sale separately

Revenue’s acquisition-cost guidance says foreign-currency cost is translated at the rate at the time of acquisition. A later sale has its own value and conversion record. The example below shows why a flat dollar price can still produce a euro gain.

Keep the date, amount, currency and any separately stated fees for both sides. A broker account shown in euro does not necessarily mean that every exported source amount is euro.

Sources: Revenue: acquisition costs and foreign currency (19-02-10)

Check the direction of the exchange rate

A quoted rate might mean dollars per euro or euro per dollar. Confirm the units before multiplying or dividing. In the example, USD 1.20 per EUR 1 means USD 1,200 converts to EUR 1,000.

FiscalFox keeps source cash and its euro valuation evidence. Where reference rates are used, the date and direction belong with the calculation so a reviewer can reproduce it. An absent rate is not a reason to pretend the source cash was already euro.

Reconcile fees without counting them twice

A statement can provide a gross trade value, fees and a net cash total. Work out whether a fee is already included before adding it again. Keep the original export unchanged so gross and net can be reconciled.

The share-disposal schedule uses the recorded net receipts and matched allowable costs. Return-form consideration may require the gross value; use the filing totals and source reconciliation instead of copying a net figure without checking.

Identify the investment as well as the currency

A USD listing is not proof that the investment is a US company share. An Irish-domiciled ETF may trade in dollars, while a company depositary receipt represents a different legal interest. Use the exact investment identity and evidence.

Do not choose ordinary-share or fund treatment from the currency or exchange suffix. FiscalFox separates reviewed company-share and fund facts; unresolved treatment belongs to the affected holding.

Sources: Revenue: share identification

Keep income statements with the source history

A US share account may also contain dividends and foreign withholding. Those records are separate from the capital computation. A net dividend cash amount does not establish its gross amount or the final Irish income tax.

Download the share computation, source backup and separate income evidence. Include prior broker acquisition records where a holding was transferred. This keeps the euro gain traceable even when the current broker did not record the original purchase.

Illustrative flat dollar price, different euro values

Fictional ordinary-share purchase and sale with no fees. This demonstrates valuation arithmetic, not a final annual tax figure.