CGT - Capital Gain Tax(Definition) CGT is the abbreviation for capital gains tax. This is a tax that you will pay only on profits you make once you have sold an asset or investment. Once a share or investment asset is sold, it is referred to as being “realized”. Stock shares do ...
Last year’s Budget announced a number of amendments to the capital gains tax (“CGT”) retirement relief regime which included an increase in the upper age limit from 66 years old to 70 years old. A cap of €10m of proceeds / market value was also introduced on this relief and the...
The article reports that the Irish High Court recently delivered its judgment on a case which was brought to determine whether the Ireland-Italy double taxation agreement (DTA) included within its remit Irish capital gains tax (CGT). The plaintiff in this case was Lorraine Kinsella, daughter-in...
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As announced in the Budget, the Bill provides that payments made to women impacted by failures in the CervicalCheck national screening programme will be exempt from income tax, capital gains tax, and capital acquisitions tax. Some of the other notable points included in the Bill are as follows...
Tom Maguire, Tax partner, publishes two seminal books on the Irish Taxation system - “Irish Capital Gains Tax” and “Taxation of Companies”.
A non-resident is liable to capital gains tax (CGT) on the disposal of “specified assets.” A “specified asset” means: Land and buildings located in Ireland Mineral rights located in Ireland Exploration rights in the Irish Continental Shelf ...
Seller tax implications General Where a sale of shares is involved, the seller will be subject to Irish Capital Gains Tax (“CGT”) on the disposal of the shares. The rate of CGT is currently 20%. The CGT liability is computed as 20% of the taxable gain arising on the sale,...
An improvement in capital gains tax retirement relief which should, where certain conditions are met, allow for a full exemption from CGT for those under 70 who dispose of their businesses to their children; Relief for expenses incurred on an initial stock market listing. Housing crisis The Bill...
the country, such asmining and petroleum extraction. Petroleum activities can also be imposed with a higher rate, of 40%, in certain conditions, which can be detailed by our representatives. It is also necessary to know that Ireland applies a tax on capital gains imposed at the rate of 33...