basilbrush
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1% Irish stamp duty is levied on purchases of shares in Irish companies. A few questions:
1. Shares in Irish companies are often also traded on other exchanges, such as the Frankfurt exchange, Tradegate, and Gettex. I presume that Irish stamp duty is also due on purchases there. Will brokers such as IBKR and Degiro automatically charge the appropriate duty on such purchases or do I need to declare it myself? (Edit: I found this AAM post which says that Degiro will do it, although Money Guide Ireland says "Officially – buying shares in an Irish-based company on a foreign stock exchange is also liable to Irish stamp duty. However – the stamp duty should be declared to Revenue by the buyer – it won’t usually be charged by an online broker or platform.")
2. This article states that "At the moment, an Irish company gets a stamp duty exemption from the Revenue Commissioners for any trading on a US exchange but not for any trading on its home market". I haven't been able to find the part of the law on which this exemption is based. Does it only apply to trade on a US exchange? (Edit: I think I have found it. There is an exemption when "the securities are dealt in on a recognised stock exchange located in the United States of America or Canada".)
3. Degiro apparently sent a letter to people who bought CRH on the Tradegate exchange advising them that they could transfer their holding to the LSE after Tradegate suspended trading of it, but that they may have to pay 1.5% stamp duty. Three questions:
a. Why might stamp duty be due when there is no change in the beneficial ownership caused by the transfer?
b. Is it 1.5% because it is 1% Irish + 0.5% UK stamp duty? Or is it because of this 1.5% stamp duty?
c. Are purchases of shares in Irish companies on the LSE normally subject to 1% Irish stamp duty rather than 0.5% UK stamp duty?
4. This Degiro help page says that Irish stamp duty "applies to shares or similar instruments issued by Irish companies listed on the Irish Stock Exchange". While that is true, doesn't it also apply to Irish companies not listed on the ISE (if they don't have an exemption such as the one in my second question or from being listed on the Euronext Growth Market)?
1. Shares in Irish companies are often also traded on other exchanges, such as the Frankfurt exchange, Tradegate, and Gettex. I presume that Irish stamp duty is also due on purchases there. Will brokers such as IBKR and Degiro automatically charge the appropriate duty on such purchases or do I need to declare it myself? (Edit: I found this AAM post which says that Degiro will do it, although Money Guide Ireland says "Officially – buying shares in an Irish-based company on a foreign stock exchange is also liable to Irish stamp duty. However – the stamp duty should be declared to Revenue by the buyer – it won’t usually be charged by an online broker or platform.")
2. This article states that "At the moment, an Irish company gets a stamp duty exemption from the Revenue Commissioners for any trading on a US exchange but not for any trading on its home market". I haven't been able to find the part of the law on which this exemption is based. Does it only apply to trade on a US exchange? (Edit: I think I have found it. There is an exemption when "the securities are dealt in on a recognised stock exchange located in the United States of America or Canada".)
3. Degiro apparently sent a letter to people who bought CRH on the Tradegate exchange advising them that they could transfer their holding to the LSE after Tradegate suspended trading of it, but that they may have to pay 1.5% stamp duty. Three questions:
a. Why might stamp duty be due when there is no change in the beneficial ownership caused by the transfer?
b. Is it 1.5% because it is 1% Irish + 0.5% UK stamp duty? Or is it because of this 1.5% stamp duty?
c. Are purchases of shares in Irish companies on the LSE normally subject to 1% Irish stamp duty rather than 0.5% UK stamp duty?
4. This Degiro help page says that Irish stamp duty "applies to shares or similar instruments issued by Irish companies listed on the Irish Stock Exchange". While that is true, doesn't it also apply to Irish companies not listed on the ISE (if they don't have an exemption such as the one in my second question or from being listed on the Euronext Growth Market)?
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