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Taxes Consolidation Act, 1997 (Number 39 of 1997)

981Payment by instalments where consideration due after time of disposal.

[CGTA75 s44(1)]

Where the consideration or part of the consideration taken into account in the computation of a chargeable gain is payable by instalments over a period beginning not earlier than the time when the disposal is made, being a period exceeding 18 months, then, if the person making the disposal satisfies the Revenue Commissioners that such person would otherwise suffer undue hardship, the capital gains tax [1]>or corporation tax, as the case may be,<[1] on such a chargeable gain accruing on a disposal may, at such person’s option, be paid by such instalments as the Revenue Commissioners may allow over a period not exceeding 5 years and ending not later than the time at which the last of the first-mentioned instalments is payable.



Inserted by F(No.2)A08 sched4(1)(b)(iii). Applies as respects any tax that becomes due and payable on or after 1 March 2009.