Today's Finance Bill contains a new regime targeting vulture funds, which will now have to deduct 20 per cent in tax when certain types of holdings are transferred to non-resident investors.
The change - published this afternoon - will apply to accounting periods beginning on or after January 1.
It comes after the government was met with intense lobbying from the property industry, who wanted to avoid the imposition of hefty taxes on these special tax-avoiding vehicles.
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