Finance Act 2006

Amendment of section 6 (taxable gift) of Principal Act.

113.— (1) Section 6 of the Principal Act is amended in subsection (5) by substituting the following for paragraph (b):

“(b) For the purposes of subsection (2)(d), so much of the market value of any share in a private company incorporated outside the State (which after taking the gift is a company controlled by the donee) as is attributable, directly or indirectly, to property situate in the State at the date of the gift shall be deemed to be a sum situate in the State.”.

(2) This section shall apply to gifts taken on or after 2 February 2006.