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Irish Revenue Updates Guidance on Stamp Duty for Cancellation Schemes of Arrangement in Relation to Indirect Transfers of Residential Property

|Approved Changes|Ireland
Ireland

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…

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