Government ‘got it wrong’ as stamp duty tax hike misses its target by €90 million

Government ‘got it wrong’ as stamp duty tax hike misses its target by €90 million

The government has been accused of repeating the mistakes of the past after its stamp duty tax hike missed its target.

The increase in stamp duty on commercial property deals from 2 per cent to 6 per cent in Budget 2018 was supposed to bring in an extra €376 million last year.

But it only brought in an extra €289 million, leaving a €92 million gap in last year’s finances which was only closed using an unexpected corporation tax windfall.

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