Kevin McGeever, the west of Ireland developer found wandering near Ballinamore, Co. Leitrim in January this year, has admitted that his ‘abduction’ was an elaborate hoax to escape disgruntled ‘investors’ who had given him money for development projects in Dubai.
The Irish Revenue has stepped up its efforts to track down errant overseas property owners. It is increasingly co-operating with overseas tax authorities to find owners of property overseas who have not paid related taxes.
The Irish government is examining a proposal to introduce another property tax to accompany the newly introduced ‘second property tax’. The reaction to its very public reliance on taxing property transactions for its income during the boom times has now shifted to making those currently owning property assets bear the brunt of these poor decisions.