Ryanair share sale verdict expected this week
Daughter-in-law of Ryanair founder appealing to Irish High Court
Lorraine Kinsella, the daughter-in-law of
Ryanair founder Tony Ryan
will hear this week if she is liable to pay capital gains tax (CGT) in Ireland,
following her disposal of a ‘significant number’’ of her family’s shares in the
airline.
Kinsella
has taken a High Court action against the Irish tax authority in an effort
to prove that she is not liable to pay CGT on the proceeds of the sale.
The case was heard in the commercial division of the High Court earlier this
year and presiding judge, Mr Justice Peter Kelly, is scheduled to give his
judgment on the case on Tuesday this week, according to court service records.
Kinsella claims that she should not be forced to pay the tax because she was
a tax resident in Italy when she sold the shares in 2003. However, the Revenue
is disputing this.
Further reading:
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Ryanair CEO renews tirade against Brown