No monies from State ‘windfall tax’

The State has received no monies to date from a “windfall tax” aimed at generating revenues from land rezonings across the country.

As part of the legislation that established Nama in 2009, the Green Party insisted on a provision for the State to receive an 80% windfall tax from the sale of lands that had been subject to rezonings after Oct 2009. The provision came as a result of late amendments to the act.

However, in a recent Dáil reply to Fine Gael’s John Deasy, the Minister for Finance Michael Noonan sid: “There is no record of profits of gains subject to the windfall tax having been declared on tax returns to date.”