The basic principle of Stamp Duty is that it is a duty or tax on documents and not on transactions or persons.
Therefore if a transaction or transfer can be carried out legally without the use of a written document, then there is nothing to be stamped and therefore no charge to Stamp Duty.
Stamp duty is also charged, in the form of a levy, on insurance premiums, credit cards, and bank cards.
The Stamp Duty rates on a transfer of residential property are:
1% on the first €1 million
2% on excess over €1 million.
These rates apply to instruments (written documents) executed (signed, sealed or both) on or after 8 December 2010.
Non-residential property other than policies of insurance
The Stamp Duty rate on a transfer of non-residential property (other than policies of insurance) is 7.5%.
This rate applies to instruments executed on or after 9 October 2019.
The Finance Act 2017 increased the rate from 2% to 6%.
The 2% rate applied to instruments executed on or after 7 December 2011.
When the rate was increased to 6% the Finance Act 2017 provided for transitional arrangements
A transfer for less than full value (for example, a gift) is charged on the market value
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