Capital Acquisitions Tax (CAT) Explained

When there is a lifetime transfer (i.e. a gift) of an asset, the following taxes should be considered:

o Capital Gains Tax (“CGT”) on the transfer of the asset;
o Capital Acquisitions Tax (“CAT”) on the acquisition of the asset;
o Stamp duty on the acquisition of the asset.

• A transfer on death (i.e. an inheritance) involves CAT only as there is no CGT on death nor is stamp duty applicable to property you inherit under a will or on intestacy.

• Furthermore, the purpose of the memo below is to provide an overview of the Irish tax implications in respect of gifts and inheritances of copyrights under the relevant tax heads.

>>>  https://imro.ie/wp-content/uploads/2021/11/Tax-Advice-Memo.pdf

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.