Tuesday September 22, 2020

Dept of Finance weighs abolishing windfall land rezoning tax

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.

23rd September, 2014
The tax may be altered in the October Budget

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...

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