Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Yes. To give the committee a fuller answer, the section amends paragraph 6(2)(e) of Schedule 1 to the principal Act. The purpose of the amendment is to bring Irish VAT legislation into line with rulings of the Court of Justice of the European Union. The amendment removes the VAT exemption in respect of the management of certain section 110 companies that do not meet the conditions to qualify as a special investment fund for the purposes of the exemption. The amendment, therefore, deals only with VAT.