Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Do I take it that unrealised profits or gains recognised in the income statements now are exempt from dividend withholding tax if that is unrealised for the period of five years? I take it that is the case. Therefore, a person did not actually have to dispose of the asset to be able to avail of the dividend withholding tax. Obviously, however, the other provisions would have applied then where it started to taper off.

I made all the points on Committee Stage which Deputy Wallace has made here. It is appalling that the Minister is not introducing this measure for 2018. We have discussed it on Committee Stage and had votes on it and, unfortunately, the parties are where they are on this matter. It is ridiculous because this is a major benefit to the funds.

There is a question about this amendment. This will mean that any disposals after 1 January 2019 will be subject to dividend withholding tax and any unrealised profits or gains recognised in the income statements from that point on will be subject to dividend withholding tax.

See this speech in context