Friday 28 April 2017

Fionnan Sheahan: Taxing time ahead for property-levy advisers

Fionnan Sheahan

Fionnan Sheahan

"There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things" -- 'The Prince', Niccolo Machiavelli.

This Machiavellian quotation was applied to the difficulty of bringing in a property tax by the consultant in charge of coming up with a formula for the new system.

In a joint paper to the Dublin Economic Workshop in Kenmare in October 2008, Dr Don Thornhill and Dr Donal de Buitleir recommended the phasing out of stamp duty on property transactions -- to be replaced by an annual property tax.

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