Revenue eBrief No. 061/23

14 March 2023

Stamp Duty Tax and Duty Manual Part 9 - Levies

Part 9 of the Stamp Duties Consolidation Act (SDCA) 1999 provides for stamp duty to be levied on financial cards, cheques and certain insurance premiums and policies.

Stamp Duty Tax and Duty Manual Part 09 - Levies has been amended to reflect the following changes in legislation.

• Section 61 Finance Act 2021 which was amended and commenced on 1 April 2022 by section 70 Finance Act 2022, provided for the modernisation of banking levies by providing that statements are to be made online and amended the filing dates to coincide with the calendar year. It also introduced a new section 123D which provides for a €0.50 levy on Bills of Exchange. This charge was previously provided for in Schedule 1.
• Section 62 Finance Act 2021, which was commenced by Ministerial Order SI 133/2022 on 1 April 2022, provides for the modernisation of insurance levies by providing that statements are made by electronic means. A new section 125C was introduced which provides a charge of €1 on non-life insurance policies. This charge was previously provided for in Schedule 1.
• Section 63 Finance Act 2021, which commenced on 1 January 2022, updated the compliance provisions of the banking and insurance levies to bring them into line with other stamp duties.