Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I shall give the Deputy another piece of information. The purpose of the measures is to that securities issued by Irish Water will be subject to the same tax treatment as securities issued by other State bodies. While this measure will allow the interest paid on securities issued by Irish Water to be paid without the deduction of tax at source the interest, however, then becomes chargeable to tax under Case III of Schedule D in the hands of the recipient at their marginal tax rate.