Govt 'plans to reduce Capital Gains Tax on sale of sites for housing'

Landowners who sell sites for housing will avoid massive tax bills under plans being considered by the Government in order to tackle the housing crisis in the country.

According to reports in the Irish Independent, the move is among a number of measures being proposed.

Around 80% of profits from the sale of housing land are subject to Capital Gains Tax, but it is understood the Government has plans to reduce or abolish the rate.

The plans are expected to be announced when the Dáil returns next month.

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