|
|
 |
You are > Home > Know your rights
|
Friday, November 14, 2008
Know your rights
Q: I have an ATM card and Laser card at the moment and have paid stamp duty on them with my current bank. If I change now to a new bank will I have to pay the stamp duty again to get the cards on that account?
A: STAMP DUTY is charged each year for cards that are held on December 31.
This means that you can change to a new bank account during the year but you will not be charged for cards on your previous account if it is closed before December 31. The stamp duty you paid earlier this year was for the use of the cards in 2007.
In the 2009 Budget, the stamp duty on ATM cards and Debit/Laser cards was reduced from €5 per card to €2.50. If you have a card that combines both ATM and Debit/Laser functions, the stamp duty on the card is €5. These new rates apply to the current year, the stamp duty for which will be collected in early 2009.
The duty applies to each card, rather than each account, but it does not apply to replacements for lost cards. There are a number of cases where stamp duty does not apply.
If you have not used the ATM or debit functions of your card during the year then it is not liable for stamp duty. It does not have to be paid if you have only used the card to request a chequebook, a balance statement, or to establish your identity or account number.
There is no duty payable if the card is issued on a deposit account which has an average balance of less than €12.70.
You are also exempt from stamp duty if your billing address is outside the State.
Further information is available from your regional tax office or from the Citizens’ Information Centre below.
Main News Page |
Previous Page
|
|
|
|
