Form Cg50B PDF Details

Understanding the complexities surrounding capital gains tax and its implications during property transactions is crucial for both purchasers and vendors. One key element in this process is the Certificate of Deduction of Capital Gains Tax, informally known as the CG50B form. This form plays a vital role in the sale of assets in Ireland, ensuring compliance with Section 980(4)(a)(i) of the Taxes Consolidation Act 1997. By completing the CG50B form, a purchaser formally certifies that a specified amount of the purchase consideration, agreed upon for the acquisition of an asset, has been deducted as capital gains tax and paid to the tax authorities. This certification is not only a declaration but an integral compliance requirement that serves to safeguard the purchaser by ensuring that the capital gains tax associated with the asset's acquisition is correctly handled. The form includes detailed sections for the insertion of the sale amount, the tax deducted, the vendor's information, and the evidence of payment to the tax office, culminating in an official receipt of this transaction. Additionally, it requires information about the purchaser, including their tax reference number and capacity in which they are acting, whether as an individual, company secretary, or trustee, making it a comprehensive document for the proper administration of capital gains tax deductions.

QuestionAnswer
Form NameForm Cg50B
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesacquisition, Vendor, cg50b certificate, acquiring

Form Preview Example

Certiicate of Deduction of Capital Gains Tax

FORM CG50B from Purchase Consideration under

Section 980(4)(a)(i) Taxes Consolidation Act 1997

Section 980(4)(a)(i) Taxes Consolidation Act 1997 Deduction of tax from purchase consideration

I certify that on payment of the consideration, agreed at for the acquisition of the asset(s), namely,

to (the Vendor) of (Address)

€

(gross),

I deducted, in accordance with the provision of Section 980(4)(a)(i) Taxes Consolidation Act 1997,

the sum of

€

 

 

in respect of Capital Gains Tax. I further certify that the said sum has been paid by me to the proper oficer for the receipt of taxes who has issued to me

Receipt No.

 

dated

 

 

 

I / the company / the trust submit(s) tax returns to the

Revenue Ofice

Tax Reference No.

Name (Block Capitals)

Address

Date

Signature

Capacity in which this Certiicate is given

(e.g. Co. Secretary, Individual on own behalf, etc.)

Full name of Company, trust, etc. acquiring the asset

in the sum of

€

For Oficial use only

RPC003279_EN_WB_L_1

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This PDF requires particular info to be typed in, hence you must take whatever time to type in exactly what is asked:

1. For starters, while filling in the Vendor, start with the area containing next blanks:

Step number 1 of filling out provision

2. Now that this array of fields is complete, it is time to add the required details in I the company the trust submits, Revenue Ofice, Tax Reference No, Name Block Capitals, Address, Date, Signature Capacity in which this, Full name of Company trust etc, and For Oficial use only in order to go to the next part.

How one can complete provision portion 2

Concerning I the company the trust submits and Revenue Ofice, be certain that you double-check them in this section. These two could be the key fields in this page.

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