Capital Gains Tax at 33% will be applied to all payments made by Eirgrid to landowners for pylons to facilitate the North South Interconnector.
That's according to the County Monaghan Anti Pylon group who received correspondence from the Revenue Commissioners. The letter seen by Northern Sound from the Revenue Commissioners specified money received as compensation and insurance money may be treated as a disposal and Capital Gains Tax must be paid.
Last week Eirgrid wrote to landowners in counties Cavan, Monaghan and Meath offering them €50,000 for each pylon built on their land. The North Sound Interconnector would see hundreds of pylons built across Cavan, Monaghan and Meath, as part of the plan to connect the two electricity networks on the island.
Nigel Hillis of the County Monaghan Anti Pylon group says Eirgrid can't have their cake and eat it. He says the group are hosting an event in Aughamullen on Wednesday evening in relation to the latest developments.