Brendan Howlin (Wexford, Labour)
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Question 66: To ask the Tánaiste and Minister for Finance the reason in respect of section 124 of the Stamp Duties Consolidation Act 1999, stamp duty is not being levied on certain cards and accounts which act in precisely the same manner as other credit or charge card accounts where the levies are applied. [29567/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am advised by the Revenue Commissioners that under Section 124 of the Stamp Duties Consolidation Act 1999, stamp duty of €40 is chargeable in respect of credit card accounts and charge cards maintained by a financial institution at any time during the twelve month period ending on 1 April in each year (referred to as the year of charge). In the case of credit cards, the duty is levied on the account and in the case of charge cards it is levied on the card. In accordance with the legislation, Stamp Duty is not chargeable in respect of 'store cards' cards.

I am advised that Revenue is not aware of credit cards or charge cards, operating in precisely the same manner as those liable for stamp duty, but where duty has not been levied. I am also informed that Revenue monitors new financial products which have similarities to credit or charge cards to establish whether or not they fall within the charge.

If the Deputy has a particular type of credit card or account in mind, he may wish to contact the Revenue Commissioners with the details.