Revenue have chosen to ignore their broader stakeholders, and even their own eBrief process, in the manner in which they published their interpretation of the stamp duties exposures arising from trades in Contracts for Difference. A statement in relation to the matter apparently appeared as part of a Crest Operational Bulletin, published on St Patrick's Day. In very brief summary, the statement (reproduced at 2.04 below) expressed the opinion that neither the SDCA99 s74-Market Maker relief nor the s75 (broker/dealer relief) would generally apply to trades in Contracts for Difference.

However a statement from the Minister for Finance on 30 March put a slightly different complexion on matters.

“The Minister for Finance, Mr Brian Cowen, TD, today indicated that, in view of uncertainties and difficulties of which he had become aware, he plans to review the law as it relates to stamp duty on share transactions which underlie trading in Contracts for Difference based on Irish equities. The Minister said that he was anxious that the market in Irish equities would continue to be a modern, liquid market, conducive to capital acquisition by Irish firms. His Department would consult with the Revenue Commissioners and with market participants with a view to appropriate announcements being made in Budget 2007.”