Revenue eBrief No. 235/25

08 December 2025

Stamp Duty - Market capitalisation exemption

Finance Bill 2025 provides for the introduction of an exemption from Stamp Duty on acquisitions of stocks and marketable securities. The exemption will apply where:

• the securities are admitted to trading on a regulated market or a multi-lateral trading facility in the EU, or an equivalent third country market,
• the market capitalisation of the entity that issued the securities was below €1 billion on 1 December in the previous year, and
• a valid notification of the applicable market capitalisation was made to Revenue within a specified timeframe.

Where the securities were admitted to trading after 1 December, the exemption may still apply if the expected market capitalisation of the issuer of the securities upon admission to the relevant market was under €1 billion.

Subject to enactment of the relevant provisions in Finance Bill 2025, the exemption will come into operation on 1 January 2026 and apply until 31 December 2030.

As the availability of the exemption is contingent upon a valid notification of the applicable market capitalisation having been made to Revenue within a specified timeframe, an overview of the proposed exemption has been published on the Revenue website. This sets out an overview of the conditions required for the exemption to apply and details of how to make a notification to Revenue, including links to notification forms.  

More detailed guidance will be published once the Finance Bill 2025 is enacted.