Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It is 15%, and it can actually be reduced based on the taxation agreements.

I am going to go back to answer my core question. Non-resident investors are taxed at a rate of 15% and they comprise the majority of investors in a REIT structure. The Minister is saying that we should not apply capital gains tax to these structures that dispose of assets, and which have made a killing to purchase them at the low end of the market, and may dispose of them at the higher end of the market. He says that we should not charge them corporation tax on the rents that they charge families across Dublin, which are the highest rents in the State charged by the largest landlords in the State. The Minister is saying that this is because we capture the tax in other ways and in a fair way. However, it is only at a rate of 15% and can be reduced depending on the double taxation treaties that we have with other member states. That is the problem right there. Those are the Minister's priorities. We are back to it again.