Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I will not go over the ground already covered but I asked a question on Committee Stage, the answer to which I would like confirmed. If there is no distribution in dividends from the income that is generated by these vehicles but instead the profits are rolled up and used to buy even more property by these vehicles, so that all of the profit gets rolled up into capital gain, the withholding tax does not apply as long as they hold on to it for five years. Is that right? Potentially, all of the profits that they make, and are making, from the extortionately high level of rents, as long as they do not distribute them as dividends, but instead reinvest them to buy even more property, so the capital gain element of the investment goes up and up and up, and they hold on to it for five years, then they can walk away and all of it is tax free. Therefore, the withholding tax becomes meaningless. Is that not a fact?

See this speech in context