Dáil Éireann Debate, Tuesday - 13 February 2018
138. Deputy Bobby Aylward asked the Minister for Finance the estimated cost of reducing stamp duty on combined ATM debit cards to €0.10 per ATM withdrawal up to a maximum of €4.50 per annum; and if he will make a statement on the matter. [7101/18]
View answerStamp Duty is chargeable on ATM cards and combined cards (which comprise ATM and debit card functions). Where only the ATM function of a combined card is used during a year the Stamp Duty is €0.12 per withdrawal subject to an annual maximum of €2.50. The same Stamp Duty charge applies to ATM only cards. Where both the ATM and debit card functions of a combined card are used in a year, the Stamp Duty is €0.12 per withdrawal with an annual maximum of €5.00.
I am advised by Revenue that it is not possible to provide a costing on impact of the proposed change to combined cards, as the underlying information in respect of the number of transactions per card is not available to Revenue. However, the Deputy may be interested to know that the yield in 2017 from combined cards is €9.74 million.
