Tax implications of Sumitomo takeover of Fyffes
The Revenue have recently issued guidance to shareholders on the calculation of CGT arising from the recent takeover of Fyffes by Sumitomo Corporation. Shareholders in Fyffes received €2.23 per share they held.
What are the tax implications?
Any gain to shareholders will be subject to CGT at a rate of 33%. Your taxable gain will be reduced by an annual personal exemption of €1,270. This exemption is only available to individuals. Tax on the gain arising will be due for payment by 15th December 2017.
Please refer to the Revenue guidance at Fyffes for further details.
Should you require assistance in calculating the tax due contact the Tax Man.