Capital Gains Tax Act, 1975
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Unremittable gains. |
43.—(1) In this section— | |
“particular gains” means chargeable gains accruing from the disposal of assets situated outside the State, the amount of which is, or is included in, the amount (in this section referred to as the said amount) on which, in accordance with this Act, the tax is computed. | ||
(2) Subject to subsections (3), (4) and (5), the provisions of this section shall have effect where capital gains tax has been charged by an assessment for the year in which the particular gains accrued and the tax has not been paid. | ||
(3) In any case in which, on or after the date on which the capital gains tax has become payable, such proof is given to the Revenue Commissioners as renders them satisfied that particular gains cannot, by reason of legislation in the country in which they have accrued or of executive action of the government of that country, be remitted to the State, the Revenue Commissioners may, for the purposes of collection, treat the assessment as if the said amount did not include the particular gains, but such treatment shall terminate on the Revenue Commissioners ceasing to be satisfied as aforesaid. | ||
(4) The Revenue Commissioners may, for the purposes of this section, call for such information as they consider necessary. | ||
(5) Any person who is dissatisfied with a decision of the Revenue Commissioners under subsection (3) may, by giving notice in writing to the Revenue Commissioners within twenty-one days after the notification of the decision to him, apply to have the matter referred to the Appeal Commissioners, as if it were an appeal against an assessment, and the provisions of the Income Tax Act, 1967 , relating to the rehearing of an appeal and the statement of a case for the opinion of the High Court on a point of law shall apply accordingly with any necessary modifications. |