Ireland: Inheritance
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Last Updated: Oct 31, 2007
Inheritance tax and law
A tax called the Capital Acquisitions Tax is levied on inheritances in Ireland. The beneficiary is liable to pay the tax. Inheritances between spouses are tax-exempt. In the case of real estate property, the tax may be paid by installments over a period of 5 years; however, interest charges will be applied.
Capital Acquisitions Tax is imposed at a flat rate of 20%. A threshold amount that is exempt from tax is provided for beneficiaries, with the threshold amount varying depending on the relationship between the deceased and the beneficiary.
Tax-Free Threshold |
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| GROUP RELATIONSHIP | THRESHOLD | |
| Son, daughter | €496,824 | |
| Parent, brother, sister, niece, nephew, grandchild | €49,682 | |
| Others | €24,841 | |
| Source: Global Property Guide | ||
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