The aircraft leasing industry is just one element of the strong ecosystem in aviation in Ireland which includes aircraft maintenance, repair and overhaul, avionics and a range of specialist aviation service providers.
As a peripheral economy, Ireland has a strong reliance on aviation in facilitating trade and tourism.
In light of the significant opportunities that the continued growth of aviation globally presents to Ireland's industry, the Government continues to pursue appropriate policies to strengthen our position in aviation.
The National Aviation Policy seeks to maximise Ireland’s connectivity to support continued economic activity and specifically seeks to further develop the wider aviation enterprise sector, including leasing, in support of job creation.
The leasing sector faces strong competition from other jurisdictions (e.g. China, Singapore etc.). Ireland's operating environment, including a stable legal and tax environment for aviation leasing has contributed to the growth of the sector in Ireland.
I am informed by the Department of Transport, Tourism and Sport that the leasing sector here contributes over €540 million to the economy in direct and indirect spending, and supports some 4970 jobs (circa 1700 in direct employment).
The transfer, sale or lease of an aircraft, either where the transfer deed is executed in Ireland, or if executed outside Ireland relates to any property situated in Ireland or to any matter or thing done or to be done in Ireland, is currently exempt from stamp duty in accordance with section 113 of the Stamp Duties Consolidation Act 1999. This exemption applies, inter alia, to boats and aircraft.
Therefore, I have no plans to revoke that exemption in order to introduce a new stamp duty of the type suggested in the Deputy's question.