Tax treatment of investment funds

Summary

Deputy O'Callaghan challenged the low effective tax paid by Irish real estate funds and accused the Government of inaction. The Taoiseach said Revenue was examining the issue and would close any loopholes or abuses.

Cian O'Callaghan Social Democrats

I want to ask the Taoiseach about investment funds and the tax they pay. In 2021, the effective tax rate paid by Irish real estate funds fell from almost 18% to less than 6%. This is an incredible drop in the amount of tax they contribute. The Government has not done anything to tackle this. Why is the Government letting investment funds get away with paying so little tax?

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Leo Varadkar The Taoiseach Fine Gael

My understanding is the Revenue Commissioners are examining this issue and intend to close any loopholes that may exist or that are being abused. There have been some changes in the Finance Act but the Revenue Commissioners are examining this at the moment.

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