Ireland to Cut Fund Tax in Bid to Shore Up Capital Markets

Ireland will reduce the rate of tax on investment in funds products from 41% to 38%, Finance Minister Paschal Donohoe announced during the budget Tuesday.

The government will also exempt the purchase of shares in some Irish companies from a 1% stamp duty. The move will apply to firms with a market value of less than €1 billion ($1.2 billion). The changes are part of a plan to help shore up Europe’s ailing capital markets.

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Ireland Delivers a Cautious Budget as Surplus Shrinks

However, the government did not go as far as removing the deemed disposal rule in ...