Should we increase stamp duty on share transactions?

Should/could we increase the rate from 1% to 1.25% in an attempt to raise funds for the emergency budget?

We should be taxing the speculators before we tax honest labour via PAYE.

Wouldn’t that just urge shareholders to buy foreign shares instead and depress the Irish stock exchange further?

Let’s just kick the ISEQ now that it is on the floor begging for mercy.

It will add one more to the growing list of reason not to buy Irish listed shares.

How much does the government make from Irish stamp duty on share transactions?

Absolutely not. Law of unintended consequences. There should be 0 stamp duty on buying of shares. The current 1% on buying of shares places an artificial restriction on the market. Removing it would make the market more liquid and in theory it should increase.

Those honest PAYE workers that you speak of, if they have pensions are likely to be heavily invested in the ISEQ, far more heavily than the size of the ISEQ would warrant.

Not everyone who owns Irish shares is a speculator looking to turn a quick buck.

I don’t know what the consequences would be but I think I’d move the stamp duty on shares to the sale side. So you can buy without paying any tax, but when you sell you pay a small amount of stamp duty (whether you made a profit or not) and then CGT if you made a profit.

-Rd