Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

Section 59 provides for a reduced rate of capital gains tax on investment gains accruing to fund managers in respect of investment in venture capital funds. This section is amended so that investments made in the UK can be taken into account in the calculation of the amount of relief. It is a capital gains tax measure. We need to provide for gains in the UK to be taken into account in calculating the amount of relief in respect of capital gains tax.

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