Dáil debates
Wednesday, 23 November 2016
Finance Bill 2016: Report Stage (Resumed) and Final Stage
9:40 pm
Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source
This amendment tightens the drafting around specified persons to confirm that the NTMA and exempt unit trusts will not be subject to this 20% withholding tax, if they hold units in an IREF. This is on the basis that both the NTMA and exempt unit trusts are exempt from tax generally.
The amendment also provides that no IREF withholding tax will apply to payments to investment limited partnerships. This is largely a technical amendment which simply prevents a theoretical withholding obligation on a transparent entity. Whether the withholding tax should arise is dependent upon each partner, rather than the partnership itself. I commend this amendment to the House.
No comments