Brendan Griffin
Question:67. Deputy Brendan Griffin asked the Minister for Finance his views on a matter (details supplied) regarding tax; and if he will make a statement on the matter. [36619/16]
View answerThursday, 24 November 2016
Questions (67)
Written answers
A person who disposes of a foreign life assurance policy is chargeable to capital gains tax on the profit of their investment or in respect of the growth in value of the policy. I am advised by Revenue that the person concerned recently filed his 2015 CGT return under self assessment, declared a gain and paid the tax in respect of a disposal of a foreign life policy. Having regard to the relevant legislation and the return made by the person concerned, there is no provision for a reduction in the tax due in this instance.