Revenue changes the collection of stamp duty on credit cards to July
Today (18/03/2020), in light of the Minister for Finance, Paschal Donohoe, setting out plans to defer the collection of stamp duty on credit cards, Revenue has confirmed that the stamp duty on credit cards will not be collected until 1 July 2020.
Generally, financial institutions collect the stamp duty from credit card accounts on 1 April each year. The stamp duty due on credit cards is €30 per year per credit card account. Following Minister Donohoe’s announcement today, the collection of stamp duty from credit card accounts has been deferred to 1 July 2020.
Individual credit card account holders do not need to take any action. The collection date will be changed automatically by financial institutions.