Finance Bill measures increase Ireland’s attractiveness for foreign investment in Irish property – DeloitteMeasures will broadly level the playing field with UK for foreign investment |
Today’s Finance Bill gives effect to a number of positive measures with regards to the property industry according to Padraic Whelan, Head of Real Estate and Infrastructure at Deloitte.
Whelan commented:
“The Finance Bill has brought through the changes announced by the Minister in the Budget relating to property. A 2% rate of stamp duty on commercial property together with a capital gains tax exemption for properties held for seven years will make Ireland an attractive proposition for foreign property investment.
“Our UK neighbours exempt property investment gains for non-residents with the result that capital flows in and out of the UK more easily. This measure will level the playing field to a large degree. It is very likely that we will see a number of transactions in the near term and there is substantial interest from foreign investors given the significant downward correction which has happened over the last several years.
It’s a positive and clever move which will help our country’s recovery.”
For full analysis of the taxation measures announced in the finance bill please visit www.deloitte.com/ie/financebill
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- Deloitte
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www.deloitte.com/ie/financebill
Visit our Finance Bill website