Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I move amendment No. 106:

In page 42, between lines 12 and 13, to insert the following: "23.The Minister shall, within nine months from the passing of this Act, prepare and lay before Dáil Éireann a report on the ability of non-resident investors who hold Irish business assets (including shares in Irish businesses) in QIAIFs and ICAVs, to avoid dividend withholding tax on any dividends they receive related to their Irish business holdings.".

The principle of this amendment is the same as for the previous one. We discussed the timeframe in regard to section 110 companies. The intention is the same, namely, we would have a report on "the ability of non-resident investors who hold Irish business assets (including shares in Irish businesses) in QIAIFs and ICAVs, to avoid dividend withholding tax on any dividends they receive related to their Irish business holdings". I was talking to the Minister of State's officials earlier about whether dividend withholding tax is being applied to non-resident investors who hold Irish business assets in ICAVs. I refer to holding the shares of a company and then paying out dividends from the profits on those shares and to whether the non-resident investor can avoid paying dividend withholding tax.