Dearth of stock market flotations and high profile delistings are driving campaign for tax incentives ahead of Budget 2025
There is a growing sense of urgency to find ways to revive the IPO market on the Irish Stock Exchange. Photograph: Dara Mac Dónaillstock exchange and the wider Irish capital markets ecosystem are pressing the Government to launch a tax-friendly retail investment plan along the lines of the popular individual savings accounts scheme launched in the UK 25 years ago, according to sources.
The UK ISA scheme, launched in 1999, allows individuals to invest as much as £20,000 a year in various types of savings accounts, ranging from interest-earning cash ISAs to stock ISAs. Income and capital gains from investments in ISAs are exempt from tax. The Government here would be prohibited by EU state-aid rules from launching a similar scheme aimed at incentivising investment in stocks on the Iseq. A wider scheme focused on stocks across the EU would be of limited benefit to the Irish market.
Mr McGrath told The Irish Times last week that his officials are considering tax incentives as part of a review his department has been carrying out on the Irish funds sector, which is nearing completion.
Irish-Stock-Exchange Michael-Mcgrath Budget Tax Isif Crh Flutter Smurfit-Kappa
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