Revenue Note for Guidance

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Revenue Note for Guidance

120A Relief in respect of certain payments of stamp duty

This section11 provides relief from companies capital duty for companies that increase their issued share capital within 4 years of a reduction in that capital as a result of losses.

11 Section 120A replicates section 71(6) of the Finance Act, 1973 which was inadvertently omitted from the Stamp Duties Consolidation Act, 1999 when it was enacted on 15 December 1999. The application of section 120A from 15 December 1999 ensures no time lapse arises in the application of the provision.

Relevant Date: Finance Act 2014