The Gazette 1984

GAZETTE

JULY/AUGIJST

1984

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Society's members about delays in obtaining capital gains tax clearance certificates. As you know, the issue of these certificates by inspectors of taxes is provided for in Paragraph 11(6) of Schedule 4 to the Capital Gains Tax Act, 1975, and is designed to enable disponers of certain assets to receive payment without deduction of tax. I am not aware that any undue delay occurs in the issue of such certificates but if you have any specific cases in mind and let me have the details, I will arrange to have them examined. Your letter seems to be more concerned with the delays which occur in cases that are referred to the Valuation Office for an opinion as to the valuation of property for capital gains tax purposes. We are broadly in agreement with your view that a capital gains tax charge is not likely to arise in many cases where agricultural property owned since 1974 is disposed of at the present time. With this in mind a procedure was initiated about six months ago under which local inspectors of taxes were given discretion to settle at district level and without recourse to the Commissioner of Valuation (through Head Office) certain cases involving disposals, after 5 April, 1982, of agricultural land. This should make a significant contribution towards reducing the volume of work in the Valuation Office. You will appreciate, however, that some cases of complexity and cases involving pre-1982 disposals may still require to be referred to the Commissioner of Valuation. Yours sincerely, S. Pairceir, (Chairman), Office of the Revenue Commissioners, Dublin Castle, Dublin 2. * Members who experience difficulty in relation to the above may write to the Taxation Committee.

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