Revenue e-Brief No. 54/2006
Vat On Property Review Project
The Revenue Commissioners have today published the final report of the VAT on Property Review Project on the Revenue website (www.revenue.ie).
The Revenue Commissioners, over the past two years, have carried out a review of the current system of applying VAT on property transactions. The review recommends significant changes to the system.
A copy of the report is available at http://www.revenue.ie/publications/corppubs/ vat_on_property_review_report.pdf
In the Summary of 2007 Budget Measures, Policy Changes, the Minister for Finance indicated that it was planned to engage in a wide consultation process with interested parties before deciding on any changes to the VAT treatment of property transactions. A document outlining the consultation process may be found on the Dept of Finance web site at http://www.finance.gov.ie/ under ‘Consultation Processes’.