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ISE welcomes end to stamp duty on investing in Irish companies on Enterprise Securities Market

  • Ireland
  • General

18-05-2017

Stamp duty will no longer be charged when investing in Irish companies on the Enterprise Securities

The Irish Stock Exchange (“ISE”) announced on 17 May 2017 an end to the stamp duty regime, which presently arises when shares are purchased on an Irish companies listed on the ISE’s Enterprise Securities Market (“ESM”). The exemption from 1% stamp duty comes into effect from 5 June 2017 and customers trading in the ESM will benefit from the exemption from stamp duty on their on-exchange and over-the-counter (“OTC”) transactions.

Practical Implications

This stamp duty exemption will reduce the cost for pension funds of investing in Irish growth companies.

It will place Irish companies quoted on the ISE’s ESM on a level playing field with their international peers in terms of the cost of investment. 

MSM’s

However, stamp duty will still apply when investing in Irish companies listed on the ISE’s Main Securities Market (“MSM”).

The ISE has indicated that it is currently lobbying the Government to abolish stamp duty for MSM’s.  Across Europe there has been a move to exempt listed companies from stamp duty.  France exempts listed companies with a market capitalisation of greater than €1bn.

Disclaimer

This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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