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ARTICLE · 04 MARCH 2013

Finance Bill 2013 – Financial Services

Dillon Eustace
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Finance Bill 2013 aims at further enhancing Ireland's financial services sector by introducing innovative measures that are intended to stimulate and sustain growth and ensure ongoing competitiveness in the global financial services industry.

IrelandFinance and Banking
David Lawless
David Lawless
Michael Tansley
Michael Tansley
Richard Lacken
Richard Lacken
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Finance Bill 2013 (the "Bill") aims at further enhancing Ireland's financial services sector by introducing innovative measures that are intended to stimulate and sustain growth and ensure ongoing competitiveness in the global financial services industry. Outlined below are the main measures proposed as well as some other technical amendments.

Investment Funds

Investment Limited Partnerships (ILPs)

The Bill proposes a fundamental change in the manner that Investment Limited Partnerships established under the Investment Limited Partnerships Act, 1994 (ILPs) are to be treated from an Irish tax perspective. Currently, ILPs are included within the definition of "investment undertaking" for Irish tax purposes and are therefore subject to the normal exit charge rules that apply under the Investment Undertaking Tax regime.

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