Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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93. To ask the Minister for Finance whether Revenue or his Department has conducted any assessment of the volume of retail investment that has been diverted away from EU-domiciled Exchange Traded Funds and into non-EU domiciled funds, direct equity shareholdings, or other asset classes specifically to avoid the deemed disposal regime; if not, the reason therefor; whether he intends to commission such an assessment; and if he will make a statement on the matter. [17649/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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94. To ask the Minister for Finance whether his Department has assessed the impact of the deemed disposal regime on the concentration of Irish household wealth in residential property relative to diversified investment assets; whether the regime has been considered in the context of any government policy document addressing wealth concentration in property, housing affordability, or long-term savings behaviour; and if he will make a statement on the matter. [17650/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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95. To ask the Minister for Finance whether he accepts that the deemed disposal regime, by making long-term diversified investment in EU-regulated fund products uniquely punitive relative to property investment, actively disincentivises the exact savings and investment behaviour that government policy in areas including housing, pension adequacy, and financial resilience explicitly seeks to encourage; and if he will make a statement on the matter. [17651/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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96. To ask the Minister for Finance whether any assessment has been made of the impact of the deemed disposal regime on compliance behaviour; specifically whether the regime creates an incentive for individual investors to hold investments through corporate structures, self-directed pension vehicles, or non-Irish domiciled accounts in order to avoid the eight-year crystallisation event; the estimated revenue impact of such behavioural responses; and if he will make a statement on the matter. [17652/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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97. To ask the Minister for Finance whether the deemed disposal regime has been assessed for its impact on the financial planning decisions of workers in defined contribution pension schemes who hold Exchange Traded Funds outside their pension wrapper as a supplementary long-term savings vehicle; whether the regime creates a disproportionate burden on such individuals relative to those whose savings are entirely within pension vehicles not subject to deemed disposal; and if he will make a statement on the matter. [17653/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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98. To ask the Minister for Finance the basis upon which the eight-year period was chosen as the deemed disposal interval for Exchange Traded Funds and collective investment undertakings; whether any economic modelling was conducted to assess the optimal interval from the perspective of revenue collection, investor behaviour, and administrative efficiency; whether a longer or shorter interval was considered; and if he will make a statement on the matter. [17654/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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100. To ask the Minister for Finance whether the Tax Strategy Group has produced any paper assessing options for the reform or abolition of the deemed disposal regime as it applies to Exchange Traded Funds; if so, whether that paper has been published; if not, whether he will commission such a paper in advance of Budget 2027; and if he will make a statement on the matter. [17656/26]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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103. To ask the Minister for Finance whether the retention of the deemed disposal regime at its current 41% rate and eight-year interval is consistent with the Government's stated objective of encouraging long-term household saving and investment diversification; whether any policy coherence assessment has been conducted between the deemed disposal regime and broader Government policy goals relating to household financial resilience, pension adequacy, and the reduction of wealth concentration in residential property; and if he will make a statement on the matter. [17659/26]

Simon Harris (Wicklow, Fine Gael)
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I propose to take Questions Nos. 93, 94, 95, 96, 97, 98, 100 and 103 together.

The Deputy asks about the interaction between deemed disposal and investment decisions, including in relation to the types of assets invested in, and the Government’s commitment to encouraging retail investment.

Due to the mechanics of the eight-year deemed disposal, (across both life and fund investment provisions), and the data which is returned to Revenue, it is not possible to garner the exact tax yield of the eight year deemed disposal provisions. In addition, as with all anti-avoidance rules, its existence has a deterrent effect which it is not possible to put a value on.

Individual assessments on the relationship between deemed disposal and other forms of investment have not been undertaken. Data on the volume of retail investment that may have been diverted away from EU-domiciled ETFs and into non-EU domiciled funds, direct equity shareholdings, or other asset classes specifically to avoid the deemed disposal regime is not available.

The importance of ensuring that retail investment is encouraged is recognised by this government, including through commitments in the Programme for Government.

Ireland is currently ranked as one of the top EU Member States in terms of savings held in deposit accounts. I am aware that part of the reason why retail participation in markets is limited is the lack of awareness of these products, and in some cases the complexity of some of the products can also dissuade retail consumers.

It is a priority of the government to promote financial literacy and widen retail investment across the country. This will assist in ensuring savings could be invested for the benefit of individuals as well as the European economy. Financial literacy is an essential life skill and important component of financial consumer protection. In February 2025 this government launched Ireland’s first National Financial Literacy Strategy. In this regard, the European Commission’s financial literacy strategy is welcome. The strategy aims to empower citizens, raise awareness and increase their participation in capital markets, creating a more “investment savvy” culture.

In line with the commitment in Budget 2026, work is underway on an approach to the taxation of retail investment. This work includes consideration of the current taxation regime for ETFs and other investment funds, as well as the European Commission’s Recommendation on the availability of Saving and Investment Accounts, drawing upon best practice in other countries who operate successful savings accounts. This is expected to be published in the coming months.