Thursday, 25 October 2018

Ceisteanna (91)

Michael McGrath

Ceist:

91. Deputy Michael McGrath asked the Minister for Finance the number and value of instances of capital gains tax on the sale of company shares in each of the years 2015 to 2017 and to date in 2018; and if he will make a statement on the matter. [44370/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by the Revenue Commissioners that the available information in respect of Capital Gains Tax (CGT) on the sale of company shares is the total amount of consideration received by individual taxpayers in respect of the sale of any quoted or unquoted shares.

Consideration is the gross amount before base cost, reliefs, personal exemption and losses are deducted to arrive at the chargeable gain to which CGT at a rate of 33% would be applied. Therefore, the total amount of consideration is not a reflection of the actual value of the CGT liability. 

It is not possible to separately identify the actual amount of CGT paid as the tax on shares is included with the tax on gains from other assets in the relevant tax returns.

Revenue’s records indicate that the number of cases involving the sale of any quoted or unquoted shares was 26,644 for the tax year 2015 and was 25,663 for the tax year 2016.  Information in respect of 2017 will be not be available until returns in respect of that year have been filed.