asked the Minister for Finance the reason such a high level of net capital gains tax has been demanded from a person (details supplied) in County Westmeath.
Written Answers. - Westmeath Capital Gains Tax Case.
407.
I have been advised by the Revenue Commissioners that the taxpayer sold land during the year 1982-83. The sale price indicated that the property was development land and, consequently, the chargeable gain arising from the disposal would attract capital gains tax at a higher rate. In the absence of a computation of the chargeable gain from the taxpayer or his agent, the inspector made an estimated assessment on the taxpayer on 1 June 1984. If the taxpayer was dissatisfied with the amount of the tax shown in the assessment, the appeal procedure was, of course, available for him. He is entitled to lodge an appeal with the inspector within thirty days of the date of the notice specifying the amount of tax which he considers will be payable on determination of the appeal.