Financial Services Ireland calls for tax exemption for investment accounts

FSI said the initial goal of the accounts is to help 'more people in Ireland become financially resilient through investing' and get more money into capital markets to help fund growth

Financial Services Ireland director Patricia Callan, with finance minister Simon Harris, Financial Services Ireland deputy director Audrey Crummy. Mr Harris floated plans to introduce a new savings scheme that would encourage people to invest their built-up savings.

Financial Services Ireland (FSI) has called for the Government’s proposed savings and investments accounts (SIA) to be exempt from capital gains tax and income tax on entry and exit from investment in order “to ensure its successful take-up with retail investors”.

This comes as finance minister Simon Harris has floated plans to introduce a new savings scheme that would encourage people to invest their built-up savings. Other European countries such as Sweden already have similar offerings for savings.