Dáil Éireann Debate, Wednesday - 9 October 2024
73. Deputy Pearse Doherty asked the Minister for Finance the estimated savings on a first and full year basis of extending a 1% stamp duty of all share buybacks; and if he will make a statement on the matter. [40637/24]
Amharc ar fhreagraI am advised by Revenue that, as details of share buybacks are not reported on tax returns, there is no available data on Revenue records upon which to base an accurate estimate of the potential savings raised by extending the 1% rate of Stamp Duty to all forms of share buybacks.
I would also refer the Deputy to the answer given to his PQ 31960/24, answered on 23 July this year. The estimates provided in that response were primarily based on an assessment of publicly available information. As it is not possible to ascertain if such information fully reflects all share buyback transactions, this information is no longer used by the Department as a basis to estimate the volume of share buy back transactions.
Finally, it should be noted that estimates in respect of changes to the rate of Stamp Duty applied to shares more generally are included in Revenue’s Ready Reckoner, which is published on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx. An update of the Ready Reckoner is due to issue in the coming weeks.
