Remittance Basis of Taxation
taxA method of taxation where foreign-source income and gains are taxed only when brought (remitted) into the taxing country, rather than when earned. Historically offered to UK, Irish, and Maltese non-domiciled residents, it allows individuals to keep foreign earnings outside the taxing country tax-free provided they are not remitted. The UK abolished the remittance basis for long-term residents from April 2025; it remains available in Ireland (for non-doms) and Malta (under specific regimes). 'Remittance' includes direct transfers and indirect uses of foreign funds in the taxing country.