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Dáil Éireann debate -
Wednesday, 25 Feb 1976

Vol. 288 No. 5

Written Answers. - Credit Union Tax Exemption.

38.

asked the Minister for Finance if he will take steps to ensure that, for income tax purposes, dividends received from investments with credit unions are given exemption on the same basis as those received from bank deposit accounts.

The profits of registered credit unions are exempt from both income tax and corporation profits tax. This exemption is an exceptional measure of relief which does not apply to any other financial institution. I am satisfied that it gives due recognition, under the tax code, to the important role being played by the credit union movement in the community.

In the circumstances I do not propose to arrange for the further concession suggested by the Deputy.

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