Oireachtas Joint and Select Committees

Tuesday, 20 September 2016

Committee on Budgetary Oversight

Revenue Raising Proposals: Minister for Finance and Revenue Commissioners

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

If one looks at some of the public accounts of these companies, Kennedy Wilson for example, one sees reference to withholding tax on British assets of 20% and on Spanish assets of 25% and it will boldly state that there is no tax on their Irish assets. In Kennedy Wilson's case that is assets of €1 billion and rental income of €26 million in the first six months of the year. Is the Minister open to the idea of introducing a 20% or 25% withholding tax for foreign shareholders in relation to QIAIFs?

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