Capital Acquisitions Tax Consolidation Act 2003 section 6

Taxable gift

Section 6 defines what constitutes a "taxable gift" for Capital Acquisitions Tax purposes, setting out the circumstances in which a gift, or part of a gift, falls within the Irish tax net.

• For dispositions made on or after 1 December 1999, the entire gift is taxable where either the disponer is resident or ordinarily resident in the State at the date of the disposition, or the donee is resident or ordinarily resident in the State at the date of the gift.
• Where a gift is taken under a discretionary trust, the entire gift is taxable if the disponer was resident or ordinarily resident in the State at the date of the disposition, the date of the gift, or (if the gift is taken after the disponer's death) the date of death.
• A foreign-domiciled individual is not treated as resident or ordinarily resident in the State unless the date falls on or after 1 December 2004 and the individual has been resident in the State for the five consecutive tax years immediately preceding the relevant year of assessment.
• Where neither the disponer nor the donee meets the residence conditions, only the portion of the gift property that is situated in the State at the date of the gift is taxable — and shares in Irish-registered companies are always deemed to be situated in the State.