Barry Cowen
Ceist:19. Deputy Barry Cowen asked the Minister for Finance the steps he will take regarding the future of the windfall tax on rezoned land; and if he will make a statement on the matter. [11880/14]
Amharc ar fhreagraTuesday, 8 April 2014
Ceisteanna (19)
Freagraí scríofa
I assume the Deputy is referring to the windfall gains provisions in Sections 644AB and 649B of the Taxes Consolidation Act 1997, introduced by Section 240 National Asset Management Agency Act 2009 and amended by Section 25 Finance Act 2010, which apply an 80% rate of tax to the windfall profits or gains from land disposals where those profits or gains are attributable to a relevant planning decision by a planning authority rather than to any value attributable to the work of the landowner.
The operation of these provisions will be considered, in the same way as other relevant tax provisions, as part of the normal preparations for Budget 2015 and consequent Finance Bill.