Country with which Ireland has a DTA
Michael is resident in Ireland. He bought a foreign property in 2011 for €100,000. He sold it in 2022 for €201,270. He paid foreign CGT of €15,000. He had no other gains or losses in that year.
Ireland has a DTA that covers CGT with the country that Michael’s property is in. Michael can claim a credit for the foreign CGT paid against the amount of Irish CGT he owes.
Michael's Irish CGT calculation
|Deduct allowable expenses:
|Deduct personal exemption
|Irish taxable gain
|Irish CGT (33% of €100,000)
|Deduct foreign CGT credit
|Irish CGT due