Revenue Note for Guidance

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Revenue Note for Guidance

CHAPTER 6

Policies of Insurance

Overview

Statement of Practice SP-SD 1/94 contains information on insurance policies.

Section 59 Penalty for policy of insurance not duly stamped

(1) This section provides that a penalty of €630 will apply in the event that—

  • a policy of insurance is not made out and executed within one month following receipt of a premium, or
  • payment is made on foot of a policy which is not duly stamped.

(2) However, the penalty of €630 will not apply where the policy, if executed, is one which is exempt from stamp duty.

Relevant Date: Finance Act 2014