620A Deemed disposal in certain circumstances

This section provides for an exit charge to apply in relation to an asset which ceases to be chargeable to capital gains tax because it becomes situated outside the State and in respect of which relief was given under section 615, 617 or 620.

For this purpose, the company is treated as having sold and immediately reacquired the asset at its market value at the time the asset became situated outside of the State.

Relevant Date: Finance Act 2021