Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I will examine the Bill the Deputy has brought forward. It is important to put on record that in the case of the IREF structure, approximately €170 million has been paid in IREF tax in the three years for which I have data here, 2019, 2020 and 2021. As the Deputy will be aware, in the past three years, some €40 million of tax has been paid in respect of the additional stamp duty of 10%. Revenue cannot disclose information in respect of REITs as we have only one REIT structure in the residential sector in Ireland at this point in time.

I invite the Deputy to make a submission. The deadline for the funds review has passed, but I will accept a written submission from the Deputy or his party on the funds review as the issues he has raised are currently being deliberated on by the Department. We held a public consultation and got approximately 190 submissions. I do not believe we received any from the Deputy, but I would be glad to receive one and will still consider his views.

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