Newly established retail savings and investment accounts in Ireland will enjoy a tax exemption of 50,000 euros, and account balances exceeding this limit will be taxed at a flat rate of 1%. The maximum annual payment limit for an Irish investment account is €12,000, there is no minimum payment requirement, and investments in stocks, bonds, ETFs and other funds are permitted. The account is not subject to capital gains tax and is not subject to “treat as is” rules; Treasury Secretary Simon Harris said this is the first phase of the investment plan and he is willing to re-examine the payment limit.

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