40% of cost of new houses paid in tax

THE Government’s 40% take in taxes on every house built is far too much, the Irish House Builders Association said last night.

The house building industry has become a major source of revenue for the Exchequer according to the Irish House Builders Association. In its pre-Budget submission the IHBA, part of the Construction Industry Federation, said that in the case of houses in Dublin 41% of the total cost goes to the state in various taxes.

In the case of the rest of the country the amount sequestered by the variety of tax penalties is 39% said the IHBA. In its pre-Budget submission, the association said the total revenue raised from the new private house building had shot up dramatically in recent years.