Question:
35 Dr. Upton asked the Minister for Finance if he will set out the composition of the working group on the taxation of credit unions; and the terms of reference given to the working group. [9514/98]
Written Answers - Credit Unions Taxation.
Following discussion earlier this year between myself and representatives of the Irish League of Credit Unions, it was agreed that a working group would be set up with the league, under an independent chairperson, to examine the taxation of returns on credit union savings bearing in mind the special and particular nature of the credit union movement, its contribution to Irish society, and the wider taxation issues involved. I issued a statement to this effect on 17 February 1998.
My Department is currently in consultation with the Irish League of Credit Unions regarding the composition of the working group and the appointment of a suitable chairperson. At this stage, no final decision has been taken as to the number of members or composition of the working group. It is intended that the working group will report its findings to me by 30 September 1998. I hope to make an announcement on the establishment of the working group as soon as practicable.