State braced for sharp drop in capital gains tax revenue

Tax experts have said that the state may lose out due to weaknesses in how a CGT exemption was structured

13th August, 2017

The government is facing the possibility that revenues from capital gains tax (CGT) on property sales will go off a cliff-edge next year, according to briefing documents.

Under a recession-era scheme to attract investors into Irish property, they were given a CGT holiday on properties bought between December 7, 2011 and December 31, 2014.

If the investors held onto the property for seven years or more, they will be allowed to avoid capital gains tax on any profit they...

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