Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 21 OCTOBER 2019

Irish Budget 2020 – Significant Property Tax Changes

Maples Group
Maples Group
Contributor
Maples Group

Maples Group

The Maples Group, through its leading international law firm, Maples and Calder, advises global...

View firm profile
Explore more from Maples Group

The Irish Minister for Finance announced a number of significant Irish property related tax changes on 8 October 2019 in the Irish Budget 2020.

IrelandFinance and Banking
Andrew Quinn
Andrew Quinn
William Fogarty
William Fogarty
Diarmuid Mawe
Diarmuid Mawe
Craig Kenny
Craig Kenny
Author LinkedIn connections

1. Budget 2020 – Significant Property Tax Changes

The Irish Minister for Finance announced a number of significant Irish property related tax changes on 8 October 2019 in the Irish Budget 2020. These are summarised below.

  • Stamp duty on commercial property transactions will increase from 6% to 7.5%. There is no change to the rate on residential property.
  • Irish Real Estate Investment Trusts ("REITs") will no longer be able to rebase their properties to current market value when they exit the REIT regime.
  • Irish real estate funds ("IREFs") will be subject to interest deductibility limitations which will impose a direct tax obligation on the funds. This will be material to those holding Irish real estate and related assets in ICAVs and other forms of regulated Irish investment fund.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

CBI Consults On Third-Party Risk

The Central Bank of Ireland has published a consultation paper proposing new guidance on managing third-party risks that extends beyond traditional outsourcing to encompass partnerships, joint ventures, and fintech collaborations. The proposed framework aligns with recent European Banking Authority guidelines and DORA, introducing a lifecycle-based approach with enhanced contractual provisions and broader scope than the 2021 guidance it will replace. Financial entities now face the challenge of identifying
IrelandFinance and Banking
William Fry LLP
William Fry LLP
Article

Final EBA Guidelines On The Sound Management Of Third-party Risk: What Financial Entities Need To Know

The European Banking Authority has published final Guidelines on the sound management of third-party risk regarding non-ICT services, replacing the 2019 Outsourcing Guidelines and introducing a broader regulatory framework. Financial entities will need to navigate expanded scope requirements, enhanced governance standards, and alignment with DORA while managing compliance timelines and contractual obligations.
IrelandFinance and Banking
Arthur Cox
Arthur Cox
Article

Alternative Investment Funds

Ireland offers a sophisticated regulatory framework for Alternative Investment Funds, with structures ranging from ICAVs and Investment Limited Partnerships to Unit Trusts and Common Contractual Funds. The jurisdiction provides flexible options for both retail and institutional investors, with distinct regulatory pathways for RIAIFs, QIAIFs, and ELTIFs, each designed to accommodate different investment strategies and liquidity profiles while maintaining robust investor protections.
IrelandFinance and Banking
K&L Gates
K&L Gates
Article

SFDR 2.0 Trialogue Negotiations: Key Areas Of Focus For Fund Managers

The European Commission's proposed overhaul of the SFDR regime is entering crucial trialogue negotiations, with the Irish Presidency aiming to reach agreement by year-end. While the Council and Parliament have aligned on key issues like professional investor opt-outs, significant divergences remain on exclusion criteria for Transition funds, PAI reporting requirements, and engagement strategy disclosures that will shape the future of sustainable finance regulation.
European UnionFinance and Banking
Dillon Eustace
Dillon Eustace
Article

New PRC Offshore Trust Tax Rules – Key Implications For Cayman And BVI Offshore Trust Structures

On 24 July 2026, China's Ministry of Finance and State Taxation Administration jointly issued the Announcement on Individual Income Tax Matters Relating to Offshore Trusts (《财政部 税务总局关于离岸信托个人所 得税有关事项的公告》) (Announcement No. 21 of 2026) (the "Notice"), together with a companion Announcement of the State Taxation Administration on Collection and Administration Matters Relating to Individual Income Tax on Offshore Trusts...
GlobalCorporate/Commercial Law
Maples Group
Maples Group
Article

AIFMD II: Key Implementation Developments In Luxembourg

Two years on from the entry into force of Directive (EU) 2024/927, commonly referred to as AIFMD II, the 16 April 2026 transposition deadline has passed, and the state of play across the EU is best described as uneven, with compliance posture increasingly dependent on where an AIFM is authorised. However, Luxembourg, which hosts the largest shares of EU AIFs within the Union, transposed the Directive without material gold-plating.
European UnionFinance and Banking
Maples Group
Maples Group