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	Summary of Irish Corporate Tax Environment Corporation Tax System Company Profits Capital Gains Tax Distribution of Profits and Irish Withholding Tax Headquarters and Holding Companies Foreign Taxes – Double Taxation Agreements Research & Development (R & D) Tax Credit Patent Royalty Exemption Stamp Duty and Capital Duty Value Added Tax Customs and Other Duties Investing from the UK in Ireland

INVESTING IN IRELAND

CAPITAL GAINS TAX

Profits arising from the disposal of assets, ( adjusted for inflation up to 31.12.2002 ) are subject to capital gains tax. The standard rate of capital gains tax is 20%. However a rate of 40% applies to certain disposals of certain foreign life assurance policies and foreign investment products.

All chargeable assets held on the 6.4.'74 are deemed to have been acquired at their market value on that date.

Where there is a loss on a disposal, it will normally be allowable if a gain on the same transaction would have been chargeable. Special provisions apply to losses on certain disposals, for example shares sold within four weeks of acquisition and development land.