Investment funds behind €28bn worth of property ‘cut tax bill by 50%’ despite clampdown
Commercial Property
Tax receipts for Irish real estate funds have fallen despite the entities boosting the value of their Irish assets by more than €8 billion since 2020
Investment funds controlling more than €28 billion worth of Irish property have almost halved their tax payments since the government introduced measures aimed at tackling their “aggressive behaviour to avoid tax”.
In 2019, the year before measures to clamp down on the funds took effect, tax receipts from Irefs totalled €72.1 million.
Last year, the figure fell to €37.6 million after years of successive declines since the government moved to tackle the funds tax avoidance, …
