Dáil Éireann Debate, Monday - 11 September 2023
496. Deputy Steven Matthews asked the Minister for Finance the position regarding the review of the deemed disposable system relating to exchange traded funds (EFTs); and if he will make a statement on the matter. [39152/23]
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 fall within the scope of the review.
A public consultation was launched on the Department's consultation portal - consult.finance.gov.ie/en - during the summer and responses may be submitted before the deadline of 15 September 2023. A letter was sent to all members of the Oireachtas highlighting the publication of the consultation paper in June.
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, including ETFs specifically, to fully engage with the consultation process. The Review Team will report to me by summer 2024.
