Vol. 568 No. 1
269 Mr. Crowe asked the Minister for Finance his views on reports in a national newspaper (details supplied) that his Department justified the increase in stamp duty on land zoned for residential use in his budget on the basis that it could be passed on in costs to the purchasers of new homes; and if he will make a statement on the matter. [15268/03]
Details of the budget 2003 changes made to the stamp-duty rates and structure for non-residential property were supplied to the Deputy on 20 May 2003 in reply to Parliamentary Question No. 206.
Officials of my Department had advised me, in the context of the various stamp-duty proposals made for budget 2003, that the consequences of a 9% stamp-duty rate for commercial property would need to be borne in mind. An example cited in that regard was the possibility that the stamp-duty increase in the case of land for house building could be passed on in costs to the purchasers of new houses. However, contrary to the media report referred to by the Deputy, that possibility was never used as a justification for such tax increases.
