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INVESTMENT TAXES

Local authorities can expect to gain almost €100m more in annual revenues from a proposed increase in tax on holiday homes and investment properties, according to The Sunday Business Post. Both coalition partners in the new government have both said they are committed to increasing the annual €200 non-principal private residence charge incurred on second properties. Prior to the election, Fine Gael said it would raise it to €300, while Labour would push it up to €500. The recent Programme For Government did not detail the level of timing of an increase in the charge but there is little to suggest either party in government has changed their minds about increasing it.

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