Michael Lowry (Tipperary, Independent)
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347.To ask the Minister for Finance to consider abolishing the deemed disposal tax on investment funds and ETFs, which requires individuals to pay capital gains tax on unrealised gains after eight years, regardless of whether the assets are sold; if his attention has been drawn to the financial burden this places on young investors who are just beginning to invest and work towards their financial goals; if he will outline any plans to review this policy to promote long-term investment, boost economic growth, and create a more investor-friendly environment; if the Minister will review the attached correspondence from a recent graduate with a degree in economics and finance from UCD (details supplied); and if he will make a statement on the matter.[34837/24]

Jack Chambers (Dublin West, Fianna Fail)
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I note the Deputy's query in relation to the taxation of investment funds and ETFs and whether any changes are being considered in this regard, in particular for younger investors. I also appreciate the Deputy submitting the correspondence associated with his question and this will be reviewed by my officials.

Last year, on 6 April 2023, my Department published the Terms of Reference for a review of Ireland’s funds sector - ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’. The review is wide ranging and looking at a range of issues relevant to the funds sector, taking into account the recommendations in this area of the Commission on Taxation and Welfare 2022 report, Foundations for the Future.

A draft report was submitted to me for consideration during the summer, in line with the Review's Terms of Reference. The exact timing of the publication of the Funds Review report will be confirmed in due course.

As with all areas of tax policy, the taxation of savings and investments will be kept under review throughout the annual budgetary and Finance Bill process.