Dáil Éireann Debate, Tuesday - 20 March 2007
128 Mr. Callely asked the Minister for Finance the revenue generated arising from stamp duty on house sales over the past five years; the consideration that has been given to reduce revenue generated in this area; the works under consideration for revenue generation; and if he will make a statement on the matter. [10202/07]
View answerThe table sets out actual stamp duty receipts in each of the past five years.
|
2002 |
2003 |
2004 |
2005 |
2006 |
|
|
Stamp Duty Receipts, €m |
1,167 |
1,688 |
2,088 |
2,725 |
3,717 |
|
Stamps as a % of Total Tax Revenue: |
4% |
5% |
6% |
7% |
8% |
Although exact data for stamp duty on residential property transactions are not available, the table sets out estimated figures for the period. It shows that receipts for residential property are just over a third of total stamp duty receipts.
|
2002 |
2003 |
2004 |
2005 |
2006 |
|
|
Stamp Duty Receipts from Residential Property |
€349m |
€528m |
€752m |
€945m |
€1,311m |
Stamp duty is a significant contributor to the Exchequer, which helps fund public services such as health and education, while keeping the direct tax burden low thereby facilitating continued economic success, which is of benefit to all taxpayers. Policy with regard to all taxes, including stamp duty, is reviewed every year in the context of the annual Budget. In the most recent Budget I abolished stamp duty on mortgage deeds, assisted sporting bodies wishing to purchase land for the purpose of promoting sports and introduced a new stamp duty relief for stock market intermediaries which better reflects modern share dealing practices.
