CCAB-I responds to consultation on Stamp Duty on share transactions

Nov 20, 2017

The CCAB-I responded to the Department of Finance’s consultation on the reform of stamp duty on quoted company share transactions.  Ireland operates one of the highest rates of tax on share sales in the EU.  The CCAB-I calls for the reduction in the rate of stamp duty on share transactions to 0.5 percent to ensure that Ireland is competitively placed to attract investment as Brexit looms. 

The CCAB-I also calls for the abolition of stamp duty for unquoted company share transfers.  Such transfers are usually exempt in the case of group reconstructions and reorganisations but the process for claiming the exemption can be costly and time consuming.  Therefore a full removal of stamp duty on such transactions would be far more efficient for taxpayers.  The full submission is available in the representations page of Chartered Accountants Ireland’s website.