682. Deputy Shay Brennan asked the Tánaiste and Minister for Finance in relation to capital gains tax and the exemptions that are available, the number of individuals/companies that actually paid the headline 33% rate in 2025; the amount that paid less than that; the exemptions that are mainly used to reduce the actual headline rate; and if he will make a statement on the matter. [55198/26]

I am advised by Revenue that, due to the way in which CGT is administered, it does not have a robust basis from which to supply the requested information.

In general, capital gains tax (CGT) is chargeable on a gain arising on the disposal of an asset, at the rate of 33%. The chargeable gain is generally the difference between the cost of acquisition of the asset and sales proceeds realised on the disposal of the asset. Under the provisions of section 545 of the Taxes Consolidation Act 1997 (TCA 1997), all gains are chargeable gains, unless a specific exemption or relief is provided for in legislation.

Chargeable gains may arise to individuals, non-corporate persons and companies. With the exception of chargeable gains arising on the disposal of development land, companies pay corporation tax on chargeable gains, rather than CGT. As the rates of corporation tax and CGT are different, a chargeable gain which arises to a company is adjusted, such that when the relevant corporation tax rate is applied to the adjusted amount, the result is the same as if the chargeable gain was subject to the relevant CGT rate. However, as a chargeable gain made by a company is usually included in the profits of the company for corporation tax purposes and so may be reduced by the offset of losses, including trading losses, this may impact the effective CGT rate paid by companies on chargeable gains arising to them. However, chargeable gains arising from the disposal of development land are not included in the amount of a company’s profits that are chargeable to corporation tax and are instead subject to CGT at 33%.

As noted above, the legislation provides that all gains are chargeable gains, unless a specific exemption or relief is provided. The nature and scope of CGT exemptions and reliefs vary from provision to provision. Some, for example, deem a gain not to be a chargeable gain; in such circumstances, the disponer may not be obliged to file a return of such gains. In contrast, other provisions acknowledge a chargeable gain arises, thus giving rise to a filing obligation, but exempts the chargeable gain from the tax. Some reliefs are specific to certain types of assets, be it land or certain business assets, while some are applicable regardless of the type of asset being disposed of. For example, the first €1,270 of chargeable gains of an individual in any year are exempt from CGT – this relief, commonly referred to as the annual exemption, is generally available irrespective of the asset being disposed of, but can only be utilised by individuals - companies, trustees or other non-corporate bodies are not entitled to same.

I am thus advised by Revenue that, while the 33% rate of CGT applies to the amount of any chargeable gains of an individual for the relevant year of assessment after applying the annual exemption, the application of the annual exemption may be considered to reduce the overall effective CGT rate suffered by individuals on their chargeable gains.