The Gazette 1984

GAZETTE

JULY/AUGIJST

1984

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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