asked the Minister for Finance if he will outline the taxation treatment of profits arising on the sale of shares in agricultural co-operatives; and if he will make a statement on the matter.
Written Answers. - Taxation Treatment of Co-op Profits.
28.
Profits arising on the sale of shares in agricultural co-operatives are chargeable to capital gains tax under the provisions of the Capital Gains Tax Act, 1975, as amended, on the same basis as the profits arising from the sale of other shares. Such profits are computed for capital gains tax purposes by comparing the sales proceeds of the shares with the original cost of the shares as indexed for inflation by reference to the Consumer Price Index.