Cian O'Callaghan (Dublin Bay North, Social Democrats)
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316. To ask the Minister for Finance further to Parliamentary Question No. 255 of 20 March 2024, if recommendations were made to his Department in the review referred to; if so, if his Department plans to enact these recommendations; and if he will make a statement on the matter. [7665/25]

Cian O'Callaghan (Dublin Bay North, Social Democrats)
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317. To ask the Minister for Finance further to Parliamentary Question No. 255 of 20 March 2024, if he plans to publish the now finished review referred to in the response; and if he will make a statement on the matter. [7666/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 316 and 317 together.

As I informed the Deputy during Oral Questions on 13 February last, the review referred to in Parliamentary Question No. 255 of 20 March 2024 refers to an internal compliance-based review undertaken by Revenue. Having regard to taxpayer confidentiality, any findings from Revenue’s compliance reviews are not for publication.

Following a recommendation of the Commission on Taxation and Welfare, a detailed examination of the Real Estate Investment Trust (REIT) and Irish Real Estate Funds (IREF) regimes and their role in the property sector, has recently been completed by my Department as part of the wider “Funds Sector 2030” review. I am informed by Revenue that they allocated dedicated resources to assist the Funds Review team through the analysis of Revenue data and the preparation of technical papers which built on the knowledge Revenue gained through their compliance-based activities in relation to IREFs.

On 22 October 2024, following government approval, my predecessor published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’. Recommendation 34 of this report recommended consideration of a public consultation to set out potential options for an entity-level tax for IREFs.

Officials in my Department are reviewing this recommendation, as part of a wider consideration of the Funds Review Report which I, in turn, will consider in due course.