In his budget speech of 9 December 2009, the Minister for Finance, Mr Brian Lenihan, emphasised the importance of the international funds industry to Ireland.  He indicated that the 12.5% corporation tax rate “will not change” and that further measures would be introduced so as to facilitate Ireland becoming the “European hub of the international funds industry following recent European legislative changes”.  These further measures, to be included in the forthcoming Finance Bill, will include proposals to enhance the tax environment in Ireland for:

• UCITS fund and management companies, UCITS master/feeder structures and UCITS fund mergers, following upon the introduction of UCITS IV; and
• non-Irish fund companies seeking to redomicle to Ireland.