Michael Healy-Rae (Kerry, Independent)
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21. To ask the Minister for Finance whether a recalibration of the capital gains tax regime will be introduced (details supplied); and if he will make a statement on the matter. [38244/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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Ireland's Capital Gains Tax (CGT) rate is 33%. It is paid on the chargeable capital gain made when a person disposes of an asset. The chargeable gain is usually the difference between the price paid for the asset and the price it is disposed of for. CGT is payable by the person making the disposal.

The existence of a 33% rate of CGT can help maintain a balance between the rate of taxation of capital assets and the higher rate of income tax. There are a number of targeted reliefs including principal private residence relief, retirement relief and revised entrepreneur relief. Significant exemptions often require a higher rate in order to generate an appropriate yield.

The Programme for Government commits to maintaining a broad tax base to guard against the need for counter-cyclical fiscal policy in the event of a downturn and to prepare for future budgetary challenges relating to population aging. Capital Gains Tax (CGT) is part of a system to ensure taxation is not focused solely on income tax and that those who benefit from gains in the value of their assets are included within the tax net on an equitable basis.

As with all taxes, CGT is subject to ongoing review, which involves the consideration and assessment of the rate of CGT and the relevant reliefs and exemptions from CGT. CGT policy and legislation is reviewed by the Tax Strategy Group (TSG), as part of the annual Budget and Finance Bill process and as part of wider tax policy considerations.