Capital Gains Tax
A final version of the Guide on the tax treatment of the Return of Value to Vodafone shareholders has been published on Revenue's website. It can be accessed via the above link or from the News section of the website.
Capital Gains Tax (CGT) is chargeable on gains arising on the disposal of assets, other than that part of a gain which arose in the period prior to 6 April 1974. Any form of property (other than Irish currency) including an interest in property (as, for example, a lease) is an asset for CGT purposes.
Rate of Tax
The standard rate in respect of disposals is determined based on the date on which the disposal was made as follows:
- Disposals made:
- from 6 December 2012 - 33%
- from 7 December 2011 to 5 December 2012 - 30%
- from 8 April 2009 to 6 December 2011 - 25%
- from 15 October 2008 to 7 April 2009 - 22%
- made on or before 14 October 2008 - 20%
The first €1,270 of an individual’s annual chargeable gains, net of allowable losses, is exempt.