Revenue Note for Guidance

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Revenue Note for Guidance

87 Exemption of certain benefits

This section provides that where a gift or inheritance is taken by direction of the disponer free of tax, the benefit taken is deemed to include the amount of tax chargeable on the gift or inheritance, but not the amount of tax chargeable on such tax.

Example

B receives a gift from A free of tax. The tax on the gift is €20,000. The benefit is deemed to consist of the benefit and the amount of tax chargeable on that benefit.

Relevant Date: Finance Act 2015