A new corporate structure for Irish SICAVs that meets United States check-the-box taxation rules has been given the backing of the Minister for Finance which, in principle, will see the development of legislative proposals.
Government approval was earned as the proposals meet US check-the-box requirements, reduce the administrative costs on funds, and will further develop Ireland’s fund industry promoting employment and business opportunities. Ken Owens, Chair of the Irish Funds Industry Association (IFIA), said, “This is excellent news and something the IFIA and the Department of Finance have been working on together for some time. “Last week we met hundreds of American managers on our roadshow in the US and this news is of particular interest to them. This new structure will make Ireland even more att...
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