Stamp duty anti-avoidance manuals published
Revenue published two new stamp duty manuals last month. The manuals provide guidance on anti-avoidance measures on transfers of non-residential property and cancellation schemes.
Section 31C SDCA 2010 was introduced by Finance Act 2017 to prevent the avoidance of the increased stamp duty rate on non-residential property. The newly published manual: Shares deriving value from immoveable property in the State, sets out Revenue’s guidance on the indirect transfer or sale of non-residential property.
Further anti-avoidance measures, under Section 31D SDCA 2010 were introduced by Finance Act 2020 on cancellation schemes. The Cancellation schemes of arrangement manual sets out Revenue’s guidance on the matter.