Revenue has updated its Tax and Duty Manual clarifying that where stamp duty is paid at the non-residential rate (currently 7.5 percent) under section 31C SDCA 1999 on the indirect acquisition of non-residential land by the takeover of a corporate entity which owns such land, any subsequent residential development will be eligible for a refund under section 83D SDCA 1999, subject to satisfying the qualifying conditions. The relevant updates are contained in the new Part 2 of the TDM.
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