Fionnan Sheahan: Taxing time ahead for property-levy advisers
Published 19/03/2012 | 05:00
"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.