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ARTICLE · 16 JANUARY 2013

Irish Taxation Update For Funds

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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The 2013 Irish Budget (hereafter referred to as "Budget 2013") was announced on 6 December 2012 and included therein are several measures that are specifically relevant to the Irish fund industry.

IrelandGovernment, Public Sector
Dillon Eustace
Dillon Eustace
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The 2013 Irish Budget (hereafter referred to as "Budget 2013") was announced on 6 December 2012 and included therein are several measures that are specifically relevant to the Irish fund industry.

(i) FATCA – Conclusion of Irish / US Intergovernmental Agreement

A welcomed announcement within the Budget 2013 speech was the confirmation that that the Irish and US Governments have concluded an intergovernmental agreement ("Irish IGA") in relation to the US Foreign Account Tax Compliance Act – commonly referred to as FATCA.

Mr Michael Noonan T.D, Minister for Finance and Chargé d'affaires at the U.S. Embassy in Ireland, John Hennessey-Niland signed in Dublin the Irish IGA on 21 December 2012. Ireland is now one of only four countries to have signed an IGA with the United States.

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