Ireland has agreed to exchange information on property ownership with other countries as part of a tax evasion drive.
The Revenue Commissioners will disclose ownership, purchases and disposals of property.
It will also share information on rents collected by landlords and the source of funds used to purchase assets.
While tax authorities have co-operated on disclosing financial assets they do not currently exchange information on property.
The countries involved expect to join the new mechanism in 2029 or 2030.
Other countries which have signed up to the agreement are: Belgium, Brazil, Chile, Costa Rica, Finland, France, Germany, Greece, Iceland, Italy, Korea, Lithuania, Malta, New Zealand, Norway, Peru, Portugal, Romania, Slovenia, South Africa, Spain, Sweden, the UK and Gibraltar.
The Department of Finance said the agreement would “improve transparency, prevent tax evasion and ensure that residents declare income and gains from foreign property, and that the funds used to purchase these properties were declared and taxed appropriately.”
“Ireland will become an early adopter of an important tax transparency initiative which may be a foundation on which further action can be built,” Minister for Finance Simon Harris said.
Other jurisdictions are expected to be encouraged to join.