I move:
(1) THAT in this Resolution–
"Principal Act" means the Stamp Duties Consolidation Act, 1999;
"Commissioners" means the Revenue Commissioners;
"Schedule 1" means Schedule 1 to the Principal Act.
(2) THAT–
(a) sub-paragraph (a) of paragraph (4) of this Resolution shall have effect with respect to bills of exchange (other than cheques) and promissory notes drawn on or after 1 January 2003 and with respect to cheques drawn on or after 5 December 2002,
(b) subject to paragraph (3) of this Resolution, sub-paragraphs (b) and (c) of paragraph (4) of this Resolution shall have effect as respects instruments executed on or after 4 December 2002,
(c) sub-paragraph (a) of paragraph (5) of this Resolution shall have effect as respects cash cards and combined cards valid at any time after 4 December 2002 which are included in any statement which falls to be delivered by a promoter under section 123 of the Principal Act after that date,
(d) sub-paragraph (b) of paragraph (5) of this Resolution shall have effect as respects any statement which falls to be delivered by a promoter under section 123A of the Principal Act on or after 5 December 2002, and
(e) sub-paragraph (c) of paragraph (5) of this Resolution shall have effect as respects any statement which falls to be delivered by a bank or a promoter under section 124 of the Principal Act on or after 5 December 2002.
(3) Paragraph (2)(b) of this Resolution shall not apply to sub-paragraphs (b) and (c) of paragraph (4) as respects any instrument executed before 1 March 2003, where–
(a) the effect of the application of paragraph (2)(b) would be to increase the duty otherwise chargeable on the instrument, and
(b) the instrument contains a statement in such form as the Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into prior to 4 December 2002.
(4) THAT Schedule 1 is amended –
(a) in the Heading ‘BILL OF EXCHANGE or PROMISSORY NOTE' by substituting €0.15 for €0.08 in each place where it occurs,
(b) by substituting the paragraphs set out in Part 1 of the Schedule to this Resolution for paragraphs (7) to (14) of the Heading ‘CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance', and
(c) by substituting the sub-paragraph set out in Part 2 of the Schedule to this Resolution for subparagraph (b) of paragraph (3) of the Heading LEASE.
(5) Part 9 of the Principal Act is amended–
(a) in section 123:
(i) in subsection (1)–
(I) by substituting the following for the definitions of card account and cash card:
"‘card account' means an account maintained by a promoter to which amounts of cash obtained by a person by means of a cash card are charged or to which amounts in respect of goods, services or cash obtained by a person by means of a combined card are charged;
‘cash card' means a card, not being a combined card, issued by a promoter to a person having an address in the State by means of which cash may be obtained by the person from an automated teller machine;",
and
(III) by inserting the following definition after the definition of cash card:
"‘combined card' means a cash card which also contains the functions of a debit card within the meaning assigned to it by section 123A;",
(ii) in subsections (2) and (11)(c) by substituting “cash cards and combined cards” for “cash cards”,
(iii) in subsections (3)(a), (3)(b) and (9) by substituting “cash card or combined card” for “cash card”,
(iv) in subsection (3) by substituting the following for paragraph (c):
"(c) if the cash card is a replacement for a cash card, or a combined card is a replacement for a combined card, which is already included in the relevant statement,”, and
(v) by substituting the following for subsection (4):
"(4) There shall be charged on every statement delivered in pursuance of subsection (2) a stamp duty at the rate of €10 in respect of each cash card and €20 in respect of each combined card included in the number of cash cards and combined cards shown in the statement.",
(b) by inserting the following section after section 123:
"123A.–(1) In this section–
‘accounting period' has the same meaning as it has for the purposes of section 27 of the Taxes Consolidation Act, 1997;
‘bank' means a person who holds a licence granted by the Central Bank of Ireland under section 9 of the Central Bank Act, 1971;
‘building society' means a building society which stands incorporated, or deemed by section 124(2) of the Building Societies Act, 1989, to be incorporated, under that Act and includes a company registered under section 106 of that Act;
‘card account' means an account maintained by a promoter to which, amongst other possible amounts, amounts in respect of goods, services or cash obtained by a person by means of a debit card, within the meaning of this section, are charged;
‘debit card' means a card, not being a combined card within the meaning assigned to it by section 123, issued by a promoter to a person having an address in the State by means of which goods, services or cash may be obtained by the person and amounts in respect of the goods, services or cash may be charged to the card account;
‘due date' means –
(a) in case of the year 2002, the date of the end of the accounting period ending in the year 2002, where that date is on or after 5 December 2002, and
(b) in the case of the year 2003 and each subsequent year, the date of the end of the accounting period ending in that year;
‘promoter' means a bank or a building society.
(2) A promoter shall, within 2 months of the due date falling in the year 2002 and, within 1 month of the due date falling in the year 2003 and each subsequent year, deliver to the Commissioners a statement in writing showing the number of debit cards issued at any time by the promoter and which are valid–
(a) in the case of the year 2002, at any time during the period from 5 December 2002 to the due date,
(b) in the case of the year 2003, at any time during the accounting period ending in that year but not before 5 December 2002 where that date falls within the accounting period, and
(c) in the case of the year 2004 and each subsequent year, at any time during the accounting period ending in that year.
(3) Notwithstanding subsection (2)–
(a) if the debit card is not used at any time during any period referred to in paragraph (a), (b) or (c) of subsection (2),
(b) if the debit card is issued in respect of a card account –
(i) which is a deposit account, and
(ii) the average of the daily positive balances in the account does not exceed €12.70 in any of the periods referred to in paragraph (a), (b) or (c) of subsection (2), or
(c) if the debit card is a replacement for a debit card which is already included in the relevant statement,
then it shall not be included in the statement relating to such period.
(4) There shall be charged on every statement delivered in pursuance of subsection (2) a stamp duty at the rate of €10 in respect of each debit card included in the number of cards shown in the statement.
(5) The duty charged by subsection (4) on a statement delivered by a promoter pursuant to subsection (2) shall be paid by the promoter on delivery of the statement.
(6) There shall be furnished to the Commissioners by a promoter such particulars as the Commissioners may deem necessary in relation to any statement required by this section to be delivered by the promoter.
(7) In the case of failure by a promoter to deliver any statement required by subsection (2) within the time provided for in that subsection or of failure to pay the duty chargeable on any such statement on the delivery of the statement, the promoter shall be liable to pay, by means of penalty, in addition to the duty, interest on the duty at the rate of 0.0322 per cent for each day or part of a day from the date to which the statement relates (in this subsection referred to as the due date) to the date on which the duty is paid and also, by means of further penalty, a sum of €380 for each day the duty remains unpaid after the expiration of one month from the due date and each penalty shall be recoverable in the same manner as if the penalty were part of the duty.
(8) The delivery of any statement required by subsection (2) may be enforced by the Commissioners under section 47 of the Succession Duty Act, 1853, in all respects as if such statement were such account as is mentioned in that section and the failure to deliver such statement were such default as is mentioned in that section.
(9) A promoter shall be entitled to charge to the card account the amount of stamp duty payable in respect of the debit card by virtue of this section and may apply the terms and conditions governing that account to interest on that amount.
(10) An account, charge card, company charge card or supplementary card within the meaning, in each case, assigned to it by section 124 and which attracts the payment of the stamp duty payable by virtue of that section shall not attract the payment of the stamp duty payable by virtue of this section.
(11) Where a promoter changes its accounting period and, as a result, stamp duty under this section would not be chargeable or payable in a year (in this section referred to as ‘the rel evant year'), then the following provisions shall apply:
(a) duty shall be chargeable and payable in the relevant year as if the accounting period had not been changed,
(b) duty shall also be chargeable and payable within one month of the date of the end of the accounting period ending in the relevant year, and
(c) the duty chargeable and payable by virtue of paragraph (b) shall, subject to subsection (3), be chargeable and payable in respect of debit cards issued at any time by the promoter and which are valid at any time during the period from the due date as determined by paragraph (a) to the due date as determined by paragraph (b).”, and
(c) in section 124–
(i) in subsection (1)(c) and in subsection (2)(d)(ii), by substituting “€40” for “€19”, and
(ii) in subsection (2)(c), by substituting “€20” for “€9.50”.
(6) It is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
SCHEDULE
STAMP DUTY ON INSTRUMENTS
Part 1
Conveyance or Transfer on Sale of any property other than stocks or marketable securities or a
policy of insurance or a policy of life insurance
“(7) Where the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €10,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €10,000: |
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for the consideration which is attributable to property which is not residential property |
Exempt |
(8) Where paragraph (7) does not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €20,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €20,000 |
1 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(9) Where paragraphs (7) and (8) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €30,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €30,000 |
2 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
Where paragraphs (7) to (9) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €40,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €40,000 |
3 per cent of the considerationwhich is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(11) Where paragraphs (7) to (10) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €70,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €70,000 |
4 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(12) Where paragraphs (7) to (11) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €80,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €80,000 |
5 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(13) Where paragraphs (7) to (12) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €100,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €100,000 |
6 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(14) Where paragraphs (7) to (13) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €120,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €120,000 |
7 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(14A) Where paragraphs (7) to (14) do not apply and the amount or value of the consideration for the sale which is attributable to property which is not residential property does not exceed €150,000 and the instrument contains a statement certifying that the consideration for the sale is, as the case may be– |
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(a) wholly attributable to property which is not residential property, or |
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(b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €150,000 |
8 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to property which is not residential property exceeds €150,000 |
8 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(14B) Where paragraphs (7) to (14A) do not apply and the amount or value of the consideration for the sale is wholly or partly attributable to property which is not residential property |
9 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.”. |
Part 2
Lease
“(b) where the consideration, or any part of the consideration (other than rent), moving either to the lessor or to any other person, consists of any money, stock or security, and– |
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(i) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €10,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €10,000: |
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for the consideration which is attributable to property which is not residential property |
Exempt. |
(ii) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €20,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €20,000 and clause (i) does not apply |
1 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(iii) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €30,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €30,000 and clauses (i) and (ii) do not apply |
2 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(iv) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €40,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €40,000 and clauses (i) to (iii) do not apply |
3 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(v) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €70,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €70,000 and clauses (i) to (iv) do not apply |
4 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(vi) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €80,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €80,000 and clauses (i) to (v) do not apply |
5 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(vii) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €100,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, |
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and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €100,000 and clauses (i) to (vi) do not apply |
6 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(viii) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €120,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €120,000 and clauses (i) to (vii) do not apply |
7 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(ix) the amount or value of such consideration which is attributable to property which is not residential property does not exceed €150,000 and the lease contains a statement certifying that the consideration for the lease is, as the case may be– |
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(I) wholly attributable to property which is not residential property, or |
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(II) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration (other than rent) which is attributable to property which is not residential property exceeds €150,000 and clauses (i) to (viii) do not apply– |
8 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €. |
(x) the amount or value of such consideration is wholly or partly attributable to property which is not residential property and clauses (i) to (ix) do not apply |
9 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.”. |
This resolution provides for increases in stamp duty for non-residential property and for various financial cards and cheques. Stamp duty is a good contributor to the Exchequer and this helps to fund public services while keeping the direct tax burden low thereby facilitating continued economic success. Stamp duty on the items in question has not been increased for several years and it is, therefore, appropriate that an increase in stamp duty be made at this time to assist the Exchequer.
As regards non-residential property, the resolution provides for a change in the stamp duty rates and threshold structure on conveyances, transfers and leases of non-residential property. At present, there is an exemption from stamp
duty on such property up to €6,350 and, thereafter, stamp duty is charged at rates of 1% to 6%, with the top rate being applied to amounts in excess of €76,200. The various threshold amounts will now be increased so that an exemption from stamp duty will apply on the property up to €10,000.