The 15c Stamp Duty on Writing Cheques
- Thread starter _Paul_
- Start date
Re: The 15% Stamp Duty on Writing Cheques
LOL, its not 15 "percent", its 15 "cent" per cheque.
It is called stamp duty (referring to the harp emblem that appear on the cheque, its printed these days)
whoever owns the chequebook will pay EUR 3.00 for a book of 20 cheques in advance, he pays this fee to his
bank who collect it on behalf of the revenue commissioners, a branch of the govenment.
stamp duty on cheques is unusual in an international context, and exists solely as a cashcow
for the govt
LOL, its not 15 "percent", its 15 "cent" per cheque.
It is called stamp duty (referring to the harp emblem that appear on the cheque, its printed these days)
whoever owns the chequebook will pay EUR 3.00 for a book of 20 cheques in advance, he pays this fee to his
bank who collect it on behalf of the revenue commissioners, a branch of the govenment.
stamp duty on cheques is unusual in an international context, and exists solely as a cashcow
for the govt
intermission
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Just a point to note on this - if you don't use your cheques you are entitled to return them to the bank and they will issue a refund for any unused cheques.
We are not talking huge sums of money here but I guess the money is better in our pockets than the Revenue Commissioners!
Refunds are not applicable to stamp duty on Debit / Credit cards unfortunately... which is the variety that pisses personal customers off more. Some business customers can go through quite a lot of cheques in a year so the stamp duty can mount up.
The 15c charge is also applicable to drafts, but banks usually incorporate this into the standard bank charge for a draft which is often substantially more than 15c!
We are not talking huge sums of money here but I guess the money is better in our pockets than the Revenue Commissioners!
Refunds are not applicable to stamp duty on Debit / Credit cards unfortunately... which is the variety that pisses personal customers off more. Some business customers can go through quite a lot of cheques in a year so the stamp duty can mount up.
The 15c charge is also applicable to drafts, but banks usually incorporate this into the standard bank charge for a draft which is often substantially more than 15c!
