Only thing that I can think of that might delay a reduction in the rate in the Budget this year and some action on 8 year DD is :Does that mean the government aren't planning in addressing this issue until 2030 ?
In October 2024, my predecessor published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’, a wide-ranging review of the funds and asset management sector. The Review fulfilled certain recommendations of the Commission on Taxation and Welfare 2022 report which called for, among other things, an examination of the taxation regime for funds and life assurance policies, with the goal of simplification and harmonisation where possible.
The Report arising from the Review sets out a series of recommendations to ensure that, in pursuit of continued growth in the funds and asset management sector, Ireland’s funds sector framework remains resilient, future-proofed, supportive of financial stability and a continued example of international best-practice.
The 2025 Programme for Government has committed to progress and publish an implementation plan taking into consideration the Funds Review recommendations to unlock retail investment and opportunities to grow this sector in Ireland and I, working with my officials, will consider next steps in this regard over the coming months.
My experience is that the Revenue really haven't a clue when it comes to self assessment tax on ETFs. It was all set up with the intention that the life companies would do all the work and they'd just cash the cheque. Then investment platforms became a thing and suddenly they had to figure out how it worked.DoF - Well lads, how much is this going to cost?
Revenue - It's like this, we know to the cent what the implications might be for LAET but we're a bit vague on this whole self-assessed ETFs stuff
DoF - Say what...?
The 2025 Programme for Government has committed to progress and publish an implementation plan for consideration in Budget 2026 taking into consideration the Funds Review recommendations to unlock retail investment and opportunities to grow this sector in Ireland.
This is a complex area of taxation that encompasses a wide breadth of tax legislation on domestic funds, life assurance products and offshore funds. Detailed consideration is therefore being given to the best way to bring about the necessary reforms and to support a greater level of retail investment in capital markets. It is likely given the breadth of the Funds Sector 2030 review that the delivery of associated tax measures may take place over multiple Finance Bill cycles. This work will also take account of developments at an EU level in respect of the Savings and Investment Union.
It's the government wayKick the can
Previously, when the government changed the tax rate (or made the deemed exit tax tweak), existing investments just got the new rate. But when the system changed (from net to gross roll up), existing investments kept the old treatment (and still do) and new investments were under the new treatment.in 8 years time that investment will be subject to CGT?
Revenue is one of the best run areas of government with some of the sharpest people I’ve encountered, you can be absolutely certain that a lack of comprehension of this basic premise is not a factor.are incapable of comprehending that a reduction in rate and simplification will actually encourage more people to invest and thus actually increase the overall tax take.
Same can't unfortunately be said for our finance ministers or politicians in general.Revenue is one of the best run areas of government with some of the sharpest people I’ve encountered, you can be absolutely certain that a lack of comprehension of this basic premise is not a factor.
Heard from who?From what I've heard it's Revenue that are pushing back on the changes.
Yes, but those people generally aren't on the front lines manning the phones and responding to MyQueries or whatever their secure email is called.Revenue is one of the best run areas of government with some of the sharpest people I’ve encountered,
The written answer directly addresses both of those points.no change to the 41% exit tax and not even a mention of deemed disposal
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?