Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Deputy Pearse Doherty is correct. The effect of the amendment is the preservation of the status quoand so the withholding tax of 20% would not apply.

Deputy Boyd Barrett has raised one particular aspect of the Bill, the provisions around the charitable gain, and there are later amendments to which that debate is more relevant. The proposal to delete the entire section would bring us back to the status quoand we would not get any of the gains that are being set out by way of introducing the IREF regime. We can move on fairly quickly.

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