Written answers

Tuesday, 16 January 2018

Photo of Jackie CahillJackie Cahill (Tipperary, Fianna Fail)
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216. To ask the Minister for Finance if he will address a matter regarding stamp duty in the case of a person (details supplied); and if he will make a statement on the matter. [55237/17]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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On 10 October 2017, in Budget 2018, the Deputy will be aware that I increased the rate of Stamp Duty on transfers of non-residential property from 2% to 6%. The Finance Act 2017 provides that, in general, the increased rate of duty applies in respect of all instruments relating to the transfer of non-residential property executed on or after 11 October 2017.

The old rate of 2% continues to apply in respect of instruments executed before 1 January 2018, but only where a binding contract for the transfer of the property concerned was entered into before 11 October 2017. I am advised by Revenue that from the information supplied by the Deputy that this condition is not met in the case of the person concerned. This means that the transfer in question is subject to the 6% rate of duty.  The Deputy may wish to note that a company is a separate legal entity to the individual who holds shares in the company.

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