Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by the Revenue Commissioners that in order to qualify for the capital gains tax exemption announced in Budget 2018 for land and buildings held for a minimum period of 4 years, the land or building must have been acquired in the period commencing on 7 December 2011 and ending on 31 December 2014.

There are a range of factors that influence the sale of commercial property, therefore, it would be difficult to assess whether the reduction of the period for which land or buildings must be held in order to qualify for the CGT exemption has contributed to any increase in the sale of commercial property in the first quarter of 2018. Other factors such as increased demand for commercial property arising from increased economic activity may have contributed to any uplift in sales.