Financial Resolution No. 17 gives statutory effect to the budget announcement that the rate of tax applying to life assurance policies and investment funds is being increased with effect from 1 January. This amendment applies to the rates of exit taxes on domestic life assurance policies and investment undertakings under the gross roll-up regime introduced in the Finance Act 2000. It also increases the rates of taxes which apply to profits and gains on life assurance policies and investment funds in other EU member states, EEA states and OECD countries with which Ireland has double tax agreements.

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