Irish real estate funds, or Irefs – the vehicles established in 2017 to channel foreign investment into Irish property and taxes to Revenue – are under pressure. They are under pressure from Sinn Féin. The main party of opposition pledged in the 2020 campaign to increase dividend taxes on Irefs from 25 to 33 per cent, apply a 33 per cent capital gains tax to Irefs, and apply the full rate of commercial stamp duty to Irefs. The government is also keeping a close eye on Irefs. In his budget 2023 speech, Finance Minister Paschal Donohoe announced a further review of…

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The Iref structure is under review. What do we know about how they operate (and how much tax they pay)?

Data shows how the Iref regime has evolved over time. It shows how big the Iref system has become, what it’s being used for and where, how much income is being made from Irefs, and what the government is making from the schemes.

11th May, 2023 - 3 min read

Sean Keyes

Finance Columnist

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