capital gain in a company

howareya

Registered User
Messages
189
I recently purchased a foreign investment property through my company. If I go on to sell this property what are the tax consequences. Is the CGT rates and rules the same for a company.
 
Irish CGT will apply as your company is irish resident for tax purposes - irish incorporated and liable to CGT on worldwide gains
The cgt rules and rates are pretty much the same for companies but its the company who pays the cgt - hence the problem with putting property in a company - the net gain is trapped and liable to more tax on extraction
Secondly CGT may also arise in the country that the property is located - however releif may be available under the terms of the double taxation agreement you will need to check that as not all DTA's provide for CGT relief i.e. france!