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Stamp Duty

 

 

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A range of rates apply in Ireland to instruments effecting the conveyance of real property, depending on the type of property (residential or non-residential), the value of the property and the status of the purchaser.

Conveyances/Transfers/Assignments of Non-Residential Lands and Buildings etc

Effective 15/10/2008

Aggregate Consideration

Rates of Duty Non-Residential

Does not exceed 10,000

Exempt

10,001 - 20,000

1%

20,001 - 30,000

2%

30,001 - 40,000

3%

40,001 - 70,000

4%

70,001 - 80,000

5%

Greater than 80,000

6%



Rates of Stamp Duty for Residential Property 

First time buyers are exempt from stamp duty with effect from 31/3/07. Stamp duty rates for other purchasers of residential property since 5/11/2007 are:

Amount

Non First-Time Buyer

First 125,000

NIL

Next 875,000

7%

Excess over 1,000,000

9%

 

Conveyances / Transfers of Stocks / Marketable Securities

Duty is 1% of the consideration paid for shares/marketable securities where the consideration exceeds 1,000.

Gifts

Where property is transferred as a gift or for less than full value, stamp duty is charged on the market value of the property at the appropriate rate.

Leases

Duty is payable on both the rent and the premium

Rent

Rent

Rate of Duty

Lease of a house or apartment for a term which is indefinite or does not exceed 35 years and where the rent does not exceed Euro30,000 per year

Exempt

In all other cases where the lease is for a term:

Which is indefinite or does not exceed 35 years

1% of the average annual rent

Which exceeds 35 years but does not exceed 100 years

6% of average annual rent

Which exceeds 100 years

12% of the average annual rent


Main Exemptions / Reliefs

Transfer of property between spouses is exempt. The exemption also applies to property transferred between divorced couples on foot of certain orders made by the Irish Courts. The following types of transfers are also exempted :

  • Intragroup transfers
  • Company reconstructions and amalgamations
  • Certain financial instruments
  • Charities in relation to the conveyance/transfer/lease of land
  • Commercial woodlands - duty not chargeable on the value of the trees growing on the land

In the case of young trained farmers relief, there is a reduction by two thirds of the duty otherwise payable. With regard to consanguinity relief which applies to the transfers of land, buildings etc to certain relatives, half the normal rate of stamp duty applies, but not in relation to leases.

Financial Cards

 

Stamp Duty on cards is now:

Euro30 - Charge cards and credit cards

Euro2.5 - debit cards

Euro2.5 - ATM cards

Euro5 - combined debit/ATM cards

 

 

 

 

 

 

 

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