Section 70 Rate of duty

(1) This section provides for a flat rate of duty of 1% of the consideration paid for shares title to which is transferred electronically.

(2)(a) Where the transfer operates as a voluntary disposition inter vivos, the duty will be calculated by reference to the value of the securities transferred.

(2)(b) In the event that the calculation of duty results in an amount which is not a multiple of a cent the amount is to be rounded to the nearest cent, any half cent being rounded up to the next whole cent.

Relevant Date: Finance Act 2014