Developers slam tripling of stamp duty in budget
Stephen Vernon says amount raised from tax might fall well short of government projections; Johnny Ronan calls decision to raise rate ‘unwelcome and unwise’
The government’s 200 per cent hike in stamp duty has been criticised as “inept” and “absurd” by some of the country’s largest property developers.
The measure, which was introduced in last week’s budget, is set to raise €376 million according to government projections. It was the largest revenue-raising measure introduced in the budget.
However, Stephen Vernon, the chairman of publicly listed property investor Green Reit, said the ultimate amount raised from the tax ...
