Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I am aware that there is some challenge initiated by developers against the proposal and the policy of the Government that NAMA would build 20,000 houses to help with the supply shortages of residences, particularly in Dublin. I do not have any idea how that case is proceeding.

With regard to Deputy Wallace's query on REITs, where relevant payments are made to non-resident investors, the non-resident investors may also be able to seek relief from the dividend withholding tax if they are resident in a country with which Ireland has a double taxation agreement. That is a standard feature of double tax treaties and is based on the OECD model tax convention. I am sure Deputy Wallace is familiar with the notion that one does not pay tax twice in different jurisdictions on the same profit. It is paid once and where there are double taxation agreements it is paid in the country in which the person is tax resident. If a person pays in the other country then he or she gets a credit against their tax liability in their country of residence.

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