Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I again remind the Deputy that I have introduced very significant anti-tax avoidance measures in this sector. When I have become aware of issues that have required action, I have taken action. The Deputy and I differ in that he thinks more should be done on this. When I continue to monitor the operation of the sector, which I will do, if more needs to be done to deal with tax avoidance issues, I will act. However, I do not hold any special affection for these organisations or entities. They have a role to play as landlords of commercial property and, to a lesser extent, of residential property. When I have become aware of issues that need to be addressed in how they are taxed, I have acted on them. The Deputy thinks I should do more, but I have made changes already.

Under section 31C of the Stamp Duty Consolidation Act 1999, shares are taxed at 7.5% but only for companies that focus on the dealing in and development of property.

The Deputy also spoke about the implementation of a surcharge to take effect from 1 April 2021 in Britain and the North. I will look at the operation of that surcharge in the context of the tax strategy process.