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ARTICLE · 09 NOVEMBER 2016

Finance Bill 2016 – Irish Real Estate Fund

Dillon Eustace
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As readers may be aware on 6th September 2016 the Irish Minister of Finance announced proposed amending legislation to Section 110 of the Taxes Consolidation Act...

IrelandTax
David Lawless
David Lawless
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As readers may be aware on 6th September 2016 the Irish Minister of Finance announced proposed amending legislation to Section 110 of the Taxes Consolidation Act, 1997 focused exclusively on financial assets (loans, shares, etc) that derive their value, or the greater part of their value, directly or indirectly from real estate in Ireland. However, on announcing the proposed amendments the Minister also acknowledged that "further targeted proposals in relation to the use of funds in the Irish property market are being considered." Following on from this, the Minister for Finance subsequently announced in his Budget Speech (Budget 2017) that as well as the amendments to Section 110, he was aware that that further amendments are necessary to address other issues arising in relation to Funds which invest in Irish property.

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