Costly implications of government’s proposed residential property tax

The Irish government is set to introduce an annual tax on residential property on the back of a recommendation by the Commission on Taxation to help improve the deficit in Ireland’s public finances.

Admittedly, introducing an annual tax on all privately owned residences in the state will broaden the tax base of a country that, heretofore, has been too reliant on income taxes and specific property transactions.

However, it has been estimated that ...