Administration

The Revenue Commissioners are responsible for the administration of stamp duties (s 137).

Collection

Duty

A deed must be stamped within 30 days of its execution.

Interest

Interest is charged at 0.0219% for each day the duty is unpaid.

Surcharge

An understatement in the value of property gives rise to a surcharge (s 15) of:

(a) 25%, if the undercharge was 15% – 30%,

(b) 50%, if the undercharge was 30% – 50%, and

(c) 100%, if the undercharge was greater than 50%.

Penalties

Failure to pay stamp duty on time gives rise to a penalty (s 14) of €30 plus:

(a) 10% of unpaid duty if less than six months late,

(b) 20% of unpaid duty if over six months but less than 12 months late,

(c) 30% of unpaid duty if over 12 months late.

See INCOME TAX (Penalties) as regards enforcement of penalties.