Private residential landlords say a dedicated 25% tax rate for the sector is needed in order to alleviate the crisis in housing stock and stimulate further investment.
The Irish Property Owners Association (IPOA) also claims a roll-over relief on Capital Gains Tax is needed to address the issues in the sector.
The return of Section 23, which would allow a double tax write-off on certain expenses, is also required it says.
The calls come as the IPOA published research which claims that Ireland is an outlier compared to other EU member states when it comes to support mechanisms.
The analysis also finds that in places where the sector has been supported using targeted taxation relief and financial subsidies, sufficient level of affordable housing stock has been maintained.
"Our research published today demonstrates that, relative to other EU Member States, Ireland is notably out of step on the provision of supports to private landlords," said Chairperson of the IPOA Mary Conway.
"As a priority, policymakers must recognise the central role that property owners play in housing provision, through introducing targeted subsidies that allow landlords to remain in the market and support the growth of the sector in a tangible way," she said.
Among the findings are that in Germany, tax deductions apply to depreciation allowances, mortgage relief, maintenance costs and losses and are deducted from income tax.
In Norway, it says, rental income is taxable at 22%, with deductions allowed for insurance costs, general maintenance, heating and other charges.
The study also found that in Finland there was an 11% decrease in supply between 1975 and 1985 after rent controls and regulations were introduced.
However, after deregulation took place in the early 1990s which allowed landlords to charge market rent, there was a resulting 50% increase in rental accommodation between 1990 and 1995.
Other findings include that in the Netherlands, no tax is payable on capital gains, while in Belgium mortgage interest and other operational costs quality for tax deduction.
The report states that the rental market here has lost 43,000 homes over the last five years here because there are few incentives for landlords to stay in it.
"While Government is making efforts to increase the supply of housing, the reality is that without direct and immediate funding, private landlords will continue to leave the market," said Ms Conway.
"This will only serve to negate broader progress on enhancing supply. The fact remains that 78% of IPOA members will remain in the rental market if there is a meaningful reduction in the headline rate of taxation," she said.
"Ireland is experiencing a national housing emergency - these measures need to be expedited as a matter of urgency," she added.
