Dáil Éireann Debate, Thursday - 1 June 2023
167. Deputy Pearse Doherty asked the Minister for Finance the revenue raised by increasing the rate of stamp duty on commercial property from 7.5% to 10% and 12.5% percent respectively, in first- and full-year terms. [27014/23]
View answerI am advised by Revenue that pages 18 and 19 of Revenue’s Ready Reckoner can be used to estimate the yield from changes to the rate of Stamp Duty on property. The Ready Reckoner is available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf
The Ready Reckoner can be used to extrapolate the estimated additional yield from increasing the rate of stamp duty on commercial property from 7.5% to 10% and 12.5%.
The estimated additional yield would be in the region of €295 million and €590 million respectively. However, it should be noted that this estimate does not take account of behavioural changes that would arise from changing the rate.
