Receiving a gift of a foreign property You might receive a gift of a foreign property, or inherit one. If so, you may have to pay Irish Capital Acquisitions Tax (CAT) on it. This will happen if you, or the person that you receive the property from, are resident, or ordinarily resident, in Ireland. A certain amount of…
How do you calculate inheritance or gift tax (aka CAT or capital acquisitions tax) ? The amount of CAT you pay on a gift or inheritance depends on: its value your relationship to the person who gave it to you whether you have received other gifts or inheritances. You do not have to pay tax on…
Business Relief If you inherit or receive a gift of business property, you may qualify for Business Relief. Business Relief reduces the taxable value of the business property which Capital Acquisitions Tax (CAT) is calculated on by 90%, . This is subject to conditions. A business is any activity, trade, profession or vocation which generates income or profits…
