On November 11, 2005, the Irish authorities entered into a protocol of the Ireland/Portugal double-taxation agreement. The protocol primarily affects Irish Capital Gains Tax (CGT) and is expected to take effect from 1 January 2006 (assuming the Portuguese authorities complete ratification formalities by the year end).
The Irish authorities sought the amendment following several high-profile media reports of Irish resident individuals moving to Portugal to avoid Irish CGT on the disposal of Irish shares.
The existing double taxation...
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