Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I am commenting generally in my reply. Tax is due when income is distributed to noteholders in section 110 organisations. I want to ensure that the tax laws governing these entities reflect the important role of securitisation in enabling our banks to function and fund themselves efficiently while dealing with issues that have rightly been raised in this House. That is why changes have been made. Tax is not due on transactions inside these units. Liability arises when the income is distributed.

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