Following Seanad Committee Stage debate on Finance Bill 2017, a new section 62 “Shares deriving value from immovable property situated in State” was inserted into Finance Bill 2017 (before enactment as Finance Act 2017 on 25 December 2017). This new stamp duty anti-avoidance section applies the 6 percent stamp duty rate on the disposal of certain shares deriving their value from non-residential property. Generally the rate on shares is one percent.

This new measure applies to instruments executed from 6 December 2017. Transitional measures apply for instruments executed before 1 March 2018.