asked the Minister for Finance the rate of capital gains tax in respect of each member state of the EEC; and the annual threshold exemption in respect of such tax.
Written Answers. - Capital Gains Tax.
296.
The information sought by the Deputy, based on the most up to date data available, is as follows:
|
Country |
Tax rate |
|||
|
Long term gains |
Short term gains |
Annual threshold exemption |
Comments and Special Features |
|
|
Belgium |
The lower of income tax or fixed rate of 15% or 30% |
As long term (with more emphasis on 30% rate) |
No special exemption |
The flat rate of 15% is general, but occasional profits or gains and gains on land realised within five years pay 30%. |
|
Denmark |
50% |
As long term |
DKr 6,000 (£539) |
|
|
France |
Rates depend on nature of asset and period held |
Taxed more heavily than long term |
Frs 6,000 (£659) |
Gains computed in accordance with the capital gains tax legislation are subject to normal income tax at graduated rates. |
|
Germany |
Nil |
As income tax |
DM 1,000 (£243) |
|
|
Ireland |
26% |
As long term |
£500 (applies to individuals only) |
|
|
Italy |
All capital gains rank as ordinary income. |
|||
|
Luxembourg |
No separate capital gains tax |
Some types of gains on share and bond transactions are chargeable to income tax. |
||
|
Netherlands |
No separate capital gains tax |
Some types of gains on share and bond transactions are chargeable to income tax. |
||
|
United Kingdom |
30% |
As long term |
Disposals of £1,000 |