‘Dysfunctional and illogical’: Developer Michael O’Flynn on Ireland’s new vacant land tax
Inside Business with Ciaran Hancock
00:00
The Unintended Consequences of the Tax
The tax was meant to bring forward land that people might be sitting on. The purchaser will ultimately pay the tax because all our costs are added on to the cost of building a house. It's hard to understand how something in planning, be it pre-planning, planning application maybe in train, then you get on to a developer being refused and appealed by the developer. All of those means that the tax applies. So I don't understand. How can you have a situation where it takes up to six years for land to go from undeveloped to housing?
Play episode from 04:04
Transcript
