@jolyonEuropeans hold an estimated €11 trillion in bank accounts, and Ireland plans to move some of that capital into real investments starting early next year. The government is introducing new state-backed accounts designed to let people put money into stocks, bonds, and ETFs without paying tax up to a specific limit. Anything above that threshold gets hit with a low rate instead. This setup sidesteps the usual Irish rule where investments are taxed every eight years as if they were sold, even when no transaction happened. Cryptocurrency and derivatives won't be allowed inside these vehicles. The precise tax limits for the accounts will land on October 6. Bloomberg reported the details, with Daniyal writing the piece.

@jolyonEuropeans hold an estimated €11 trillion in bank accounts, and Ireland plans to move some of that capital into real investments starting early next year. The government is introducing new state-backed accounts designed to let people put money into stocks, bonds, and ETFs without paying tax up to a specific limit. Anything above that threshold gets hit with a low rate instead. This setup sidesteps the usual Irish rule where investments are taxed every eight years as if they were sold, even when no transaction happened. Cryptocurrency and derivatives won't be allowed inside these vehicles. The precise tax limits for the accounts will land on October 6. Bloomberg reported the details, with Daniyal writing the piece.