Irish Revenue has issued eBrief No. 008/23 concerning an update to the guidance, Tax and Duty Manual Section-31D- Cancellation schemes of arrangement. The guidance concerns an anti-avoidance rule (Section 31D) introduced as part of the Finance Act 2019 to impose a stamp duty charge (1% rate on shares) on the court-approved acquisition of companies involving the cancellation of existing shares and the issue of new shares as consideration (known as "cancellation schemes of arrangement"). Prio…