Defective Concrete Products Levy
Finance Minister Paschal Donohoe has introduced a Defective Concrete Products Levy in this years budget will be introduced from 3rd of April 2023.
The new levy, applying at a rate of 10% at the point of first supply in the State, will be applied to certain concrete products which fall within one of the 18 harmomised EU standards which have been identified as meeting certain criteria. It will also apply to ready to pour/readymix concrete.
Following a Government decision from November 2021, a levy intended to contribute towards meeting the substantial cost of the Mica Redress Scheme should be imposed on the construction sector, targeted to raise €80 million per annum over the scheme’s lifetime.
The society of Chartered Surveyors Ireland (SCSI) said the introduction of the levy would add approximately €3,000 to €4,000 to the overall delivery cost of an average 3 bed semi, the most common house type in Ireland
It is also expected says The Irish SME, that the levy “severely impact the cost of construction at a time when construction input prices are already high”