Revenue and Department of Finance officials have been warmly congratulated by Dail deputies for the 'magnum opus' of the Stamp Duty Consolidation Bill, 1999.
The Bill seeks to repeal or revoke about 60 pieces of prior stamp duty legislation. The Minister of State at the Department of Finance, Martin Cullen, was not drawn on policy matters, such as stamp duty on houses, share transfers and the assignment of life assurance policies in the course of the debate on the Consolidation Bill. Labour spokesman Derek McDowell had said that he saw no reason why the 1 per cent stamp duty on share transfers should not be abolished. Deputy Sean Fleming reminded the House that 'Stamp duty was first introduced 225 years ago in 1774 as a temporary measure. |
