Dáil Éireann Debate, Tuesday - 29 April 2008
109 Deputy Paul Kehoe asked the Tánaiste and Minister for Finance the reason holders of UK bank and credit cards living here are being penalised with having to pay stamp duty from Ireland when their account is with a UK bank; and if he will make a statement on the matter. [16382/08]
Amharc ar fhreagraA Stamp Duty on financial cards is chargeable: a) in respect of credit card accounts maintained by a financial institution at any time during the twelve month period ending on 1 April, and b) in respect of ATM / debit cards issued at any time which are valid on 31 December in a year. A financial institution is entitled to pass the charge on to the account holder.
A card issued by a foreign financial institution to an individual with an address in the State is liable to stamp duty and the location of the card issuer is irrelevant. This ensures that there is equity in treatment between resident individuals regardless of the location of the card issuer.
