Japanese group, Sumitomo recently acquired shares in Fyffes plc, the Irish fruit importer and distributor and this acquisition will have capital gains tax implications for Fyffes’ shareholders. The shares were acquired at a price of €2.23 per share.

Revenue has provided guidance to shareholders and tax agents on how to treat this acquisition from a tax perspective in a new tax manual. Revenue eBrief No. 28/17 contains further details.