Pearse Doherty (Donegal South West, Sinn Fein)
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72. To ask the Minister for Finance if he will provide a list of the sporting bodies that currently have CGT exemptions. [22005/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that their website contains a list of sporting bodies, available at http://www.revenue.ie/en/tax/it/leaflets/sport-bodies-alpha.pdf, that are exempt from income tax and corporation tax under section 235 of the Taxes Consolidation Act 1997. Such bodies are also exempt from CGT by virtue of section 610A of the Taxes Consolidation Act 1997 provided the proceeds from any disposals made by such bodies are applied for the sole purpose of promoting athletic or amateur games or sports within the period of 5 years of the receipt of such proceeds. In certain circumstances, exemption from capital gains tax applies where the proceeds from disposals by sports bodies are applied for charitable purposes. The Revenue Commissioners may allow an extension of the period of 5 years if they are satisfied that an approved sports body is in the process of applying the proceeds of a disposal for sporting or charitable purposes, as the case may be.