Who pays Gift & Inheritance Tax?

The person receiving the gift or inheritance (the beneficiary) pays CAT.

• If the value exceeds the tax-free threshold, the beneficiary must pay 33% on the excess.
• Tax Return: File Form IT38 if gifts or inheritances exceed 80% of the threshold.
• Pay & File Deadlines:
  • 1 Jan – 31 Aug: Pay by 31 Oct of the same year
  • 1 Sep – 31 Dec: Pay by 31 Oct of the following year