News & Events

Rationale for Equalisation of Exit Tax with Dirt in Budget 2019

Thu Sep 27 2018

Dear Member
Please see below a link to our letter to the Minister for Finance, Paschal Donoghue, with related letters to the Taoiseach and Minister Michael D’arcy.
These address the crucial issue of the need for a level playing field for you and your clients in the area of savings and investments.
It is blatantly unfair that your prudent investors who save on a long-term basis for their children’s education and other financial planning needs are penalised by means of a higher exit tax rate than that applicable in the case of DIRT. Indeed over the long term, it will reduce the tax yield as more and more savings are encouraged to remain in low yielding deposits.
If you have a personal relationship with any TDs or people who can influence the Minister, we would appreciate you expressing your view on the matter. The more people Ministers and  government hear from, the more likely it is they will reform this discriminatory tax regime.
Kind regards,
Diarmuid Kelly
Chief Executive Officer