Taxes Consolidation Act, 1997

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30 1997 39

Partnerships.

30.—Where 2 or more persons carry on a trade, business or profession in partnership-

( a ) capital gains tax in respect of chargeable gains accruing to those persons on the disposal of any partnership assets shall be assessed and charged on them separately, and

( b ) any partnership dealings in assets shall be treated as dealings by the partners and not by the firm as such.

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