Written answers
Thursday, 5 July 2007
Department of Finance
Financial Services Regulation
5:00 pm
John Cregan (Limerick West, Fianna Fail)
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Question 64: To ask the Tánaiste and Minister for Finance if he will outline Revenue charges for laser and credit cards; and if these will be removed for senior citizens with minimal use or transactions on their accounts. [19703/07]
Brian Cowen (Laois-Offaly, Fianna Fail)
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A fixed stamp duty is chargeable on ATM cards, Laser cards, cards with combined ATM and Laser functions, and on credit card accounts. The stamp duty rates applicable are as follows:
| Stamp Duty | Rate | Application |
| ATM Cards | €10 | Applied on all cards active on 31 December each year. |
| Laser Cards | €10 | Applied on all cards active on 31 December each year. |
| Combined ATM & Debit Cards | €20 | Applied on all cards active on 31 December each year. Where only one function was used in the tax year, only €10 is charged. |
| Credit Card Account | €40 | Applied on accounts (not cards) in April in respect of the previous April to March. |
The stamp duty on cheques, bills of exchange and promissory notes has existed for many years and when electronic means of money transfers were subsequently introduced, stamp duty was gradually extended to these products to ensure that the stamp duty from cheques etc. was not eroded.
There are no plans to introduce such exemptions to stamp duty for any category of individual. Stamp duties on financial cards are significant contributors to the Exchequer and are in accordance with the overall taxation policy of widening the tax base in order to keep direct tax rates generally low.
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