Oireachtas Joint and Select Committees
Tuesday, 5 November 2019
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Finance Bill 2019: Committee Stage
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
That is the point. They will not be subject to capital gains tax. We go back to the point that if they will not be subject to capital gains tax, then it is property that makes up REITs. They are not buying shares in Apple or Google. It is property that is making up REITs and, therefore, they derive the dividends they are disbursing as a result of either the rent roll they are getting from the fact that these are now some of the largest landlords in the State or the fact there is acid appreciation within the structure. Of course we should be applying capital gains tax. I have beaten this issue so we might come back to it next year and the Minister might agree with me on it one year later.
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