Apr 2016 | Clarification of circumstances where a CGT clearance certificate is NOT required

Revenue’s eBrief 43/16 issues further clarification on the CG50 clearance procedures (under S980 TCA 1997), following queries from practitioners. These clarifications relate to:

  • Sales by financial institutions of loans secured on land in the State in the ordinary course of trades not carried on in the State.
  • Sales of such loans by "qualifying companies" under section 110 TCA 1997.

Payments made to non-resident unit holders in investment undertakings that are within sections 739B and 739C TCA 1997.

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Aileen Keogan | Solicitor & Tax Consultant | 21 The Avenue | Louisa Valley | Leixlip | Co. Kildare | Ireland

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