Revenue to re-examine fund taxes

The Revenue is looking to eliminate the need for separate on and offshore fund ranges as it re-examines the offshore fund tax regime for the first time since 1984. It believes the two taxation systems are no longer as necessary as they once were due to the closer alignment in the treatment of capital gains and income tax. For intermediaries and fund groups the proposed changes, if implemented, could result in product costs falling and fund choice widening. In its consultation paper, the Revenue has proposed four different scenarios: maintain the existing one, go back to a pre-1984 sys...