The Department of Finance is contemplating cutting or abolishing the 80 per cent windfall tax on land rezoning profits, as the Government seeks to increase the housing supply amid a surge in house prices, according to reports on Bloomberg.
The tax may be altered in the 2015 budget, which is to be laid out by Finance Minister Michael Noonan in October, but no final decision has been taken.
The controversial tax is levied on profits flowing from...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team