Oireachtas Joint and Select Committees
Wednesday, 22 June 2022
Committee on Budgetary Oversight
Tax Expenditures Review: Discussion
Ms Deirdre Donaghy:
Stamp duty is a very archaic tax on documents but essentially it is when an asset transfers and inter-group is where it moves from one arm of a company to another arm of a company. The reason there is a relief is that there is no real economic change in the owner. It is still owned within the same group and provided you meet the criteria, stamp duty is not charged. It would not be viewed as a loss of revenue to the State because if there was a stamp duty charge on it, moves just would not happen. It exists for things like reconstructions, amalgamations, moving things around a group. They are all part of the normal way in which a group operates. It is not one the Department sees as a loss of revenue as such.
On stakeholder participation, and I know Deputy Boyd Barrett will not agree with me------
No comments