Richard Bruton (Dublin North Central, Fine Gael)
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Question 203: To ask the Tánaiste and Minister for Finance the tax treatment here of profits generated by persons running private equity funds; and if the inequities recently highlighted in the UK tax treatment apply here. [18037/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The issues recently highlighted in the U.K. arose from special rules applied in that jurisdiction that provide for a reduced rate of capital gains tax on such profits in certain circumstances. I am advised by the Revenue Commissioners that the profits generated here by persons running private equity funds are taxed in the normal way without the application of special rules.