You are here: Home - Insurance - News -

Ireland enhances funds sector

Written by:
Ireland’s Finance Bill 2012 provides further tax efficiency and certainty for funds established in Ireland.

Seeking to inject a note of certainty for UCITS IV funds, the Irish Funds Industry Association (IFIA) reported on how Finance Minister Michael Noonan has kept his Budget speech promise to include a number of “very welcome measures that will enhance Ireland’s attractiveness as a location for regulated investment funds generally and UCITS IV funds specifically.”

The recently announced Finance Bill 2012 has included provisions to provide further tax efficiency and certainty for the cross-border merger of investment funds and ‘master-feeder’ structures, two significant features of the UCITS IV Directive.

Includes further stamp duty amendments noting that, “The guiding principal in the case of investment funds is that stamp duty should not apply in situations where there is no change in economic ownership of the underlying assets being transferred.”

What’s more, says IFIA, this new Bill provides some welcome clarifications and extensions to the format and requirements for tax reporting by industry companies.

Commenting on the Bill, Gary Palmer, Chief Executive of the Irish Funds Industry Association (IFIA), said:

“While the provisions of the Bill include a number of very welcome enhancements to the tax environment for Irish funds, the measures specifically designed to provide certainty and efficiency for UCITS IV funds will be much welcomed by the international promoters of UCITS funds, as they can now extend the efficiencies and opportunities anticipated by and included in the UCITS IV Directive.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Insurance companies must provide ‘wakeup call’ to those relying on State

Cirencester friendly has warned that the government’s continued welfare reforms prove relying solely the State for support is a “fool’s...