In September 2005, the Revenue Commissioners announced the withdrawal, pending the receipt of legal advice on the subject, of their previous view that Irish capital gains tax is a tax

In September 2005, the Revenue Commissioners announced the withdrawal, pending the receipt of legal advice on the subject, of their previous view that Irish capital gains tax is a tax covered by Art. 2 of the current income tax treaty between Ireland-Italy dated 11 June 1971 (signed prior to the introduction of capital gains tax in Ireland). The treaty is currently being renegotiated and, under the terms presently proposed, Irish capital gains tax will be a tax covered by the revised treat…