Exchange traded funds (ETFs) have been a huge success growing far beyond their initial function of tracking large liquid indices in developed markets. Global ETFs now hold more than $2.9 trillion of assets in upwards of 5,400 products listed on 60 exchanges. Marie Coady, financial services tax partner at PwC in Ireland, tackles the associated tax and regulatory challenges.
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Ireland’s Department of Finance reported increased income tax, VAT and corporation tax receipts from 2024; in other news, it’s understood that HSBC has agreed to pay the French treasury to settle a tax investigation
The EU has seemingly capitulated to the US’s ‘side-by-side’ demands. This may be a win for the US, but the uncertainty has only just begun for pillar two