State Revenue Service Reminds: Capital Gains for Q2 Must Be Declared by July 15

The State Revenue Service (VID) reminds that capital gains from the second quarter of this year must be declared by July 15. This obligation applies to individuals whose total income from transactions with capital assets during this period exceeded €1,000. The calculated tax must be paid into the single tax account by July 23.

Capital assets include a broad range: shares, capital shares, units, investment fund certificates, debt instruments, real estate, intellectual property objects, investment gold, virtual currency, and others. Capital gain is calculated as the difference between the selling price and the acquisition cost, plus any investments made.

From January 1, 2025, a tax rate of 25.5% applies to capital gains. However, a transitional provision allows a 20% rate for three more years (2025–2027) for transactions started before the end of 2024 and not yet completed, provided a corresponding declaration has been submitted.

VID encourages submitting the declaration electronically via the Electronic Declaration System (EDS), where a wizard is available. Paper forms can be sent by mail.

Special rules apply to real estate sales. Personal income tax is not payable if the property was declared as residence for more than 60 months and at least 12 consecutive months within the last 60 months, or if it was the sole property for more than 60 months, or if the proceeds are reinvested in a functionally similar property within 12 months. If the new property is cheaper, the difference is taxable. In such cases, a capital gains declaration is not required, but if income exceeds €10,000, it must be reported in the annual income declaration as non-taxable income.