Revenue Note for Guidance

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Revenue Note for Guidance

Section 88 Certain stocks and marketable securities

This section exempts transfers of the following from stamp duty:

  • units in an investment undertaking within the meaning of section 739B of the Taxes Consolidation Act 1997, i.e.
    • units in unit trust schemes which are authorised by the Central Bank of Ireland under the terms of the Unit Trust Act 1990, provided that that authorisation has not been revoked;
    • units in authorised collective investment undertakings within the meaning of the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 1989, provided that that authorisation has not been revoked; and
    • units in certain investment companies within the meaning of Part XIII of the Companies Act 1990, which are authorised by the Central Bank of Ireland provided that that authorisation has not been revoked;
    • units in a common contractual fund within the meaning of section 739I of the Taxes Consolidation Act 1997;
    • units in an investment limited partnership within the meaning of section 739J of the Taxes Consolidation Act 1997;
    • units in certain foreign collective investment schemes. However, if the transfer relates to Irish immovable property, or to the stocks or marketable securities of an Irish-incorporated company (other than an investment undertaking as defined in section 739B of the Taxes Consolidation Act 1997 or a qualifying company within the meaning of section 110 of the Taxes Consolidation Act 1997), the exemption does not apply;
  • units of a unit trust to which section 731(5) or (6) of the Taxes Consolidation Act 1997, relates. Section 731(5) relates to a unit trust which is not an authorised unit trust scheme within the meaning of the Unit Trusts Act 1990 but the units are held by capital gains tax exempt persons. A unit trust which is covered by section 731(6) must be administered by a licensed life assurance company and must require a policy of life assurance to be effected for participation in the trust;
  • stocks or marketable securities of companies or other bodies corporate which are not incorporated in the State. However, if the transfer relates to Irish immovable property, or to the stocks or marketable securities of an Irish-incorporated company (other than an investment undertaking as defined in section 739B of the Taxes Consolidation Act 1997 or a qualifying company within the meaning of section 110 of the Taxes Consolidation Act 1997), the exemption does not apply.

Relevant Date: Finance Act 2014