Finance Bill - what's in the small print for the taxpayer
The state is to impose new taxes on property developers who benefit from debt write-downs or who cut a deal with their banks over their borrowings, writes Ian Kehoe.
The state is to impose new taxes on property developers who benefit from debt write-downs or who cut a deal with their banks over their borrowings. In a move that will increase the tax liability of indebted developers, new legislation is being implemented that will treat write-downs and debt forgiveness as a taxable gain.
The legislation was included in the Finance Bill, which was published last week and which is designed to capture any form...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine