Financial Services Tax Newsletter February 2025

In this issue, we explore how the shifting political landscape is shaping tax and investment strategies, both in Ireland and abroad. With a new government in Ireland and a new president in the White House, the backdrop for tax policy continues to evolve.

One key highlight in this edition is the recently published Funds Sector 2030 report, which outlines 42 important recommendations aimed at enhancing the sector. My colleague Lee Kavanagh offers a detailed analysis, shedding light on the report’s suggestions, including ways to encourage more retail investment in Ireland and reforms to the taxation of Irish-domiciled funds.

We also take a closer look at Finance Act 2024, which introduced some significant changes to the Financial Services sector, including the introduction of the Participation Exemption for Foreign Dividends and some key amendments regarding Pillar II and its impact on investment undertakings and securitisation entities.

Additionally, the re-election of President Trump has sparked considerable discussion around its potential effects on the Irish economy. Colleagues Carol Lynch and Derek Henry provide insights into the ongoing conversation about tariffs and the importance of safeguarding foreign investment in Ireland.

As always, we hope you find this issue both informative and thought-provoking. Should you wish to discuss any of these topics in more detail, please don’t hesitate to reach out to me or my team. We’re here to help.