STAMP DUTY
Budget 2017 made no changes to the rates of stamp duty but the Minister for Finance announced that a review of the application of stamp duty to Irish shares would be undertaken in 2017.
Stamp Duty Rates on Residential Property
The rates of stamp duty applicable to instruments executed on or after 8 December 2010 is set out in the following table
Aggregate Consideration |
Rate of Duty |
First €1,000,000 |
1% |
Excess over €1,000,000 |
2% |
Stamp Duty Rates on Non-Residential Property
The rate of stamp duty applicable to instruments executed on or after 7 December 2011 is 2%
Stamp Duty Rates on Mixed Use Property
A mixed use property is a property which consists of residential and non-residential property.
The rate applicable to residential property applies to the residential element and the rate applicable to non-residential property applies to the non-residential element.
The rate applicable to residential property applies to the residential element and the rate applicable to non-residential property applies to the non-residential element.
If there is a premium on the lease then the rate chargeable is the same as that applicable to residential, non-residential or mixed property, as appropriate.
The rate chargeable on the rent is set out in the table below:
The rate chargeable on the rent is set out in the table below:
Stamp Duty Rates on Leases
Residential and Non-Residential Property |
Rate |
Lease for a term not exceeding 35 years or for an indefinite term |
1% of the average annual rent |
Lease for a term exceeding 35 years but not exceeding 100 years |
6% of the average annual rent |
Lease for a term exceeding 100 years |
12% of the average annual rent |
Fixed Stamp Duty Charges and Charges on Counterparts
Fixed Duty
The following attract a fixed duty charge of €12.50:
Counterparts
Each duplicate (known as a counterpart) of an original instrument chargeable with duty is liable to a fixed duty of €12.50. Where the duty chargeable on the original instrument is less than €12.50 the duty on the counterpart is the same amount as the duty chargeable on the original.
The following attract a fixed duty charge of €12.50:
- a rent review clause in a lease;
- a lease made subsequently to, and in conformity with, an Agreement for a Lease which has already been stamped;
- any other type of lease which relates to immovable property (land and buildings) situated in Ireland or to any right over or interest in such property.
Counterparts
Each duplicate (known as a counterpart) of an original instrument chargeable with duty is liable to a fixed duty of €12.50. Where the duty chargeable on the original instrument is less than €12.50 the duty on the counterpart is the same amount as the duty chargeable on the original.