Irish Real Estate Funds (IREF) Guidance Note and IREF Declarations

Revenue has updated the Tax and Duty Manuals dealing with Irish Real Estate Funds (IREF) guidance notes and IREF declarations to include Pan-European Pension Product (PEPP) provisions introduced by Section 21 of Finance Act 2022. Amendments contained within Section 14 of Finance Act 2021 to effectively abolish Approved Minimum Retirement Funds (AMRFs), whereby they became Approved Retirement Funds (ARFs) as of 1 January 2022, are also referenced.

In addition, IREF Declarations guidance has been further updated

• to request supporting documentation evidencing the equivalent nature of an entity where appropriate,
• to request additional baseline information where appropriate, and
• to remove detailed guidance regarding the transitional arrangements that were in place to assist with the introduction of the IREF declaration process, but which are now expired.