Barry Ward (Dún Laoghaire, Fine Gael)
Link to this: Individually | In context

345. To ask the Minister for Finance the position regarding his Department-led review of the fund and investment industry in Ireland; including a specific assessment of the deemed disposal rule; if there is a timeline for the implementation of the report’s recommendations; and if he will make a statement on the matter. [54925/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

As the Deputy may be aware, an Implementation Plan for ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ (the final report of the Fund review) was published on 7 October 2025. The Implementation Plan sets out the current position with respect to the recommendations of the Fund Review under four headings; recommendations to grow Exchange Traded Funds (ETFs); to grow private assets; to grow retail investment; and to address risks and enhance transparency in structured finance.

The Implementation Plan notes that 30 of the 42 recommendations are either complete, on a path to completion or progressing including completion by the Central Bank of substantive recommendations on ETFs and the AIF Rulebook.

Consideration of the recommendations of the Funds Review, including those that relate to deemed disposal, will feed into the development of the roadmap for the taxation of retail investment that I announced in my Budget speech, and which I expect to publish in early 2026. The roadmap will set out the intended approach to simplify and adapt the tax framework to encourage retail investment, which will be implemented in future Finance Bills, taking into account developments at EU level in respect of the Savings and Investments Union.

While work on the roadmap is underway, I have taken action in Budget 2026, announcing changes to the relevant applicable tax rates. Finance Bill 2025 will provide for a reduction in the rate of Investment Undertaking Tax (IUT), Life Assurance Exit Tax (LAET) and the rate of tax applicable to investments in equivalent offshore funds and certain foreign life assurance policies from 41% to 38% from 1 January 2026.