Vol. 519 No. 5
80 Mr. McDowell asked the Minister for Finance if he has received a request from the Irish League of Credit Unions for a meeting with the Government; if he has responded to this request; and if he has made a decision with regard to the implementation of the working group's proposals for the taxation of credit unions. [13334/00]
As the Deputy is aware, the Taoiseach and the Tánaiste met the Irish League of Credit Unions on 24 February to discuss the league's proposals on the taxation of credit unions. Officials from my Department also attended this meeting. The Deputy will also be aware that there is an ongoing complaint with the EU Commission which relates to the current tax treatment of credit unions and their exemption from corporation tax and DIRT. This aspect, which affects any taxation proposals, was discussed at this meeting, together with general equity aspects which must be considered in relation to all financial institutions.
At the meeting, both sides noted that complaints about taxation made to the EU Commission must be resolved before any further moves are made regarding the taxation of credit union savings income. It was agreed that the Taoiseach and the Tánaiste would meet again with the league. I have been informed by the league that they are awaiting notification of a date for a further meeting. I understand that the Taoiseach and the Tánaiste have agreed to such a meeting pending the receipt of pertinent information from the Commission.
The recommendations of the chairman of the working group on the taxation of the returns of credit union savings will be further examined in the light of whatever decision the EU Commission takes in relation to the complaints about existing tax law.
