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High Court dismisses an appeal by way of case stated from an Appeal Commissioner, and affirms a determination that the profit on sale of shares in an Irish company by a non-resident company had not derived primarily from 'land in the State', where the Irish company had not had a proprietorial interest in land but had derived its value from a 'public private partnership' to develop roads in the State, on the grounds that the definition of 'land' in the relevant tax legislation took precedence over the definition in the Interpretation Act.
Tax - case stated - meaning of 'land in the State' - s. 29(3)(a) of the Taxes Consolidation Act
1997 - non-resident company - liability for capital gains tax - CGT - profits accruing on sale of shares in Irish company - whether value of shares derived from 'land in the State' - whether Irish company held estate of proprietorial interest in land in question - Spanish company - majority shareholder in Irish company established to develop roads under public private partnership contract (PPP) - whether proprietary interest in land necessary for non-residents to be charged to tax under section - definition of land - legislative framework - principles concerning appeals from Appeal Commissioner.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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