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Stamp duty on commercial property will increase from 2% to 6% from midnight tonight, Minister for Finance Paschal Donohoe has announced.
The measure will apply to commercial land sales, he told the Dáil.
"This is still well below the maximum 9% rate which applied between 2002 and 2008," said the Minister.
Residential development
Commercial land purchased for residential development will be eligible for a stamp duty refund scheme, subject to certain conditions.
The conditions will include a requirement that developers will have to commence the relevant development within 30 months of buying the land.
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