Daily interest rates for Capital Acquisitions Tax

In accordance with Section 51(1) of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 (as amended) CAT becomes due on the valuation date and interest will not be charged if payment is made within any of the periods following the valuation date as set out in Section 51. Where payment is not made within the specified period, simple interest is payable, without deduction of income tax, for the period from the valuation date to the date of payment.

The daily interest rates applicable are as follows:
Valuation Period % Interest Due
From 31/03/76 to 31/07/78 0.0492%
From 01/08/78 to 31/03/98 0.0410%
From 01/04/98 to 31/03/05 0.0322%
From 01/04/05 to 30/06/09 0.0273%
From 01/07/09 to date of payment 0.0219%

Under Section 51(6) of the CATCA 2003 payments on account may be made at any time and interest will not run from the date of such payment on so much of the payment as is applied against tax.

Separate interest rates apply where instalment arrangements are entered into in relation to Agricultural or Business Property (Section 55 of the CATCA 2003).

The interest rates that apply are:
Valuation Period % Interest Due
From 08/02/95 to 31/03/1998 0.0307%
From 01/04/98 to 31/03/2005 0.0241%
From 01/04/2005 to 30/06/09 0.0204%
From 01/07/2009 to date of payment 0.0164%

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