Capital Gains Tax (CGT) is payable by a chargeable person on gains which arise on the disposal of chargeable assets on or after 6th April 1974.

All forms of property whether situated in the state or not are assets for the purpose of capital gains tax. These include:

• All forms of property created by the person disposing of it, e.g. land, buildings, shares, goodwill, copyright, patents;
• Options, debts;
• Currency other than Irish currency.

Chargeable persons include individuals, trusts, certain non- resident companies and companies disposing of development land.

All Irish residential companies are subject to Corporation tax, with the exception of development land gains.  The rate of corporation tax however equates to the CGT rate in force at the time of realizing of the gain.