Dáil Éireann Debate, Tuesday - 4 July 2023
228. Deputy Jim O'Callaghan asked the Minister for Finance whether consideration is being given to improving investments in Exchange Traded Funds and whether consideration is being given to changing the deemed disposal rules that exist for ETF investments; and if he will make a statement on the matter. [32398/23]
View answerOn 6 April 2023, I published the Terms of Reference for a review of Ireland’s funds sector and produce a report ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’. This review will look at a range of issues relevant to the funds sector including taxation in line with the recommendations of the Commission on Taxation and Welfare 2022 report, Foundations for the Future.
The review will specifically examine the taxation regime for funds, life assurance policies and other related investment products, with the goal of simplification and harmonisation where possible; and to do so with a net revenue-raising or neutral mandate. Exchange Traded Funds (ETFs) are an important part of the funds landscape and will therefore be within the scope of this aspect of the review.
The Consultation Paper issued as part of this review was published on 22 June 2023 and is available at on our website. Responses to the Consultation Paper are due by 15 September 2023. I have sent a letter to all members of the Oireachtas highlighting the publication of the consultation paper.
While it would not be appropriate to presuppose any outcomes of the Review, I would encourage all stakeholders with an interest in matters relating to the funds sector, as well as in relation specifically to ETFs to fully engage with the consultation process. The Review Team will report to me by summer 2024.
