I am advised by the Revenue Commissioners that they are in contact with the Portuguese authorities regarding the commencement of negotiations for a protocol to the Ireland-Portugal double taxation convention which has been in force since 1995. First round negotiations are expected to take place shortly. The Deputy will also be aware of a proposed amendment to Irish domestic law that is contained in the Finance Bill. In certain circumstances, section 65 of the Finance Bill will impose a capital gains tax charge in respect of a deemed disposal of certain assets owned by an individual on the last day of the last year of assessment for which the individual is taxable in the State, prior to becoming taxable elsewhere, where the individual disposes of these assets while resident outside the State and returns to the State within five years.
Question No. 181 answered with Question No. 177.
Question No. 182 answered with Question No. 173.