As an anti-avoidance measure, where the investment is held in a personal portfolio investment undertaking or a personal portfolio life policy, the tax rates that apply are the standard rate plus an additional 23 percentage points. Likewise, where a payment made in respect of a foreign life policy or offshore fund is not correctly included in the investor's tax return, the rate of tax that applies is an investor's marginal rate plus an additional 20%. Each of the aforementioned is being increased by 3% and this is estimated to yield the Exchequer €13 million.

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