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39 1997



Capital gains tax

Charging and assessment of persons not resident or ordinarily resident: modification of general rules.

[CGTA75 s5(3); FA82 s33]

1042. —(1) Notwithstanding section 28 (2), 31 or 979 , any capital gains tax payable in respect of a chargeable gain which on a disposal accrues to a person not resident or ordinarily resident in the State at the time at which the disposal is made may be assessed and charged before the end of the year of assessment in which the chargeable gain accrues, and the tax so assessed and charged shall be payable at or before the expiration of a period of 3 months beginning with the time at which the disposal is made, or at the expiration of a period of 2 months beginning with the date of making the assessment, whichever is the later.

(2) In computing the amount of capital gains tax payable under subsection (1), section 31 shall apply with any necessary modifications as regards the deduction of any allowable losses which accrued to the person mentioned in subsection (1) before the date of making of the assessment mentioned in that subsection.

Application of sections 1034 and 1035 for purposes of capital gains tax.

[CGTA75 s51(1) Sch4 and par2(2)]

1043. —Without prejudice to the generality of section 931 (2), sections 1034 and 1035 shall apply, subject to any necessary modifications, to capital gains tax.