Ireland Tax Agency Updates Guidance on Business Relief From Capital Acquisitions Tax

The Irish Revenue Commissioners issued Revenue eBrief No. 196/24, and updated guidance, on business relief from capital acquisitions tax (CAT) for gifts or inheritances of business assets. Topics covered include: 1) a brief introduction to the guide; 2) that in claiming business relief, taxpayers must submit the IT38 CAT Return form electronically; 3) conditions for granting business relief; 4) procedures for calculating business relief; 5) information on clawing back the relief, including filing obligations and clawback provisions regarding development land; and 6) relevant definitions and examples. [Ireland, Revenue Commissioners, 07/15/24]

Reference:
View Revenue eBrief No. 196/24. View Capital Acquisitions ...