Broad tax reliefs for developers did “such harm” to the Irish economy and should not be reintroduced, the Minister for Finance has said.
Paschal Donohoe said such tax reliefs harmed housing delivery in Ireland for many years.
He said: “We should not bring in and reintroduce the reliefs that proved so costly and did such harm a number of years ago.
“We need instead to be delivering policy stability, and we need to have a stable tax and policy framework within which those who are building more homes can operate – and reintroduction of those reliefs is not a way in which we will do it.”
In particular he said Section 23 relief, which allowed companies or individuals to get a tax break on certain rental properties, proved to be “very, very costly”.
The Minister told reporters in Brussels: “From a taxation perspective, we have many plans in place that are seen to work and are seen to play a positive role: Help to Buy, the Shared Home Equity…
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