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Dáil Éireann debate -
Tuesday, 24 Jan 1995

Vol. 447 No. 11

Written Answers. - Government/Revenue Banking Charges.

Noel Ahern

Question:

77 Mr. N. Ahern asked the Minister for Finance if he will give details of all Government or revenue charges, levies or duties charged to individual bank customers in respect of their current account cheque books, bank cards, pass cards or other banking facilities. [1350/95]

I have been advised by the Revenue Commissioners that stamp duty arises in the following specific situations:

Cheques/Bank Drafts: Under the Stamp Act, 1891 (as amended), the duty is 7p per cheque or draft.

Bank Cards: The following cards attract duty.

Cash Card: Section 203, Finance Act, 1992, provides for stamp duty at the fixed rate of £2 per card. This duty is payable annually. The charge to duty does not arise where: (i) the card is not used at any time during the relevant accounting period; and (ii) the card account is a deposit account and the average daily positive balance in the account does not exceed £10 during the relevant accounting period.

Credit Card: Section 17, Finance (No. 2) Act, 1981, provides for an annual stamp duty of £15 per account. The account must be maintained on 1st April each year.

Combination Cards: Section 203 (9), Finance Act, 1992, provides that where a card acts both as a cash card and a credit card, duty is payable as if it were a credit card only.

Pass Cards: This is a combination of a cheque guarantee card and a cash card. It attracts duty as a cash card.

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