Mairead Farrell (Galway West, Sinn Fein)
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201. To ask the Minister for Finance the date he will be publishing the terms of reference for his review of section 110 of the Taxes Consolidation Act 1997; the work he has undertaken to date with respect to same; and if he will make a statement on the matter. [29025/23]

Michael McGrath (Cork South Central, Fianna Fail)
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In its 2022 Report, the Commission on Taxation and Welfare recommended that a review of the section 110 regime be undertaken. This recommendation has been incorporated into the Terms of Reference for the “Funds Sector 2030” Review which I published on 6 April this year.

In line with the Terms of Reference, the Funds Review will, amongst other things, consider:

“the use and scope of the Section 110 regime, both in the context of the property sector and more generally so as to ensure that the regime is fit for purpose and meeting agreed policy objectives”.

A team has now been established to undertake the Funds Review and has begun its work, which includes a public consultation. While it would not be appropriate to presuppose any outcomes of the Review, I would encourage all stakeholders with an interest in matters relating to the funds sector, as well as in relation specifically to section 110 regime, including Deputies, to fully engage with the consultation process. The Review Team will present a report to me by summer 2024.