Stamp Duty Self-Assessment Regime

Section 93 provides that stamp duty will move to a full self-assessment basis. The key features of the new system include: abolition of the adjudication procedure, the introduction of a late filing surcharge as well as audit and appeal procedures and a reduction in the timeframe within which refunds of stamp duty can be claimed. Legislation providing for the new system is subject to Ministerial Order and will only apply to instruments executed on or after the date such order will specify. Chartered Accountants Ireland has been involved in on-going consultation with Revenue on the proposed new system and will continue to engage with Revenue on the practical implementation of the new system.