Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

On book value, the profits recorded by these three REITs came to €329 million in 2016. Of this, they paid €8 million in dividend withholding tax. That is wrong. It is not that they have done anything wrong. The Oireachtas has done something wrong by creating this structure.

Recalling the earlier conversation, these are the guys who are outbidding first-time buyers. They are able to do that because, out of a profit on rental income of €117 million, they only paid €8 million in dividend withholding tax. That gives them the firepower to outbid individuals and buy up whole blocks of accommodation.