Revenue fails in bid to make Spanish firm pay €900,000 capital gains tax

Cintra Infraestructureas International SLU disposed of shares in the Eurolink consortium that built and operates the tolled M4/M6 Kinnegad-Kilcock motorway

Revenue’s appeal turned on whether the shares in the Irish firm derive their value from “land in the State”. Much of the argument at the trial centred on how Eurolink collects tolls from road users. File photo

The Revenue Commissioner has failed to convince the High Court that a Spanish infrastructure company should pay capital gains tax on profits from disposing of shares in the Eurolink consortium that built and operates the tolled M4/M6 Kinnegad-Kilcock motorway.

Revenue was appealing a finding by the Tax Appeals Commission (TAC) that Cintra Infraestructureas International SLU, a global transport infrastructure provider, did not need to pay a tax bill of €868,388.