CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Ireland Extends Tax Break For Investors In SMEs

Ireland Extends Tax Break For Investors In SMEs

by Jason Gorringe, Tax-news.com, London

18 May 2017


The Irish Government is to introduce a new exemption from stamp duty on transfers of shares in Irish companies admitted to the Enterprise Securities Market (ESM) of the Irish Stock Exchange (ISE).

The ESM is the ISE's market for growth companies.

Finance Minister Michael Noonan said: "The purpose of the measure is to encourage more investors to back Irish Small and Medium Enterprises, increasing the supply of equity available to SMEs for growth and job creation. It is also our intention that the measure will encourage entrepreneurs and growing businesses to use public equity to raise finances."

Under the current rules, transfers of shares in Irish companies incur a one percent stamp duty charge. When a company's shares are transferred, stamp duty is a cost to the purchaser of the shares and not the company.

The measure is also designed to remove any competitive disadvantage that Irish companies may face compared to companies located in other EU jurisdictions where a stamp duty regime is not in place. The UK has also stamp duty for UK companies listed on its Alternative Market (the UK equivalent of Ireland's ESM).

The measure will come into effect on June 5. The cost of the exemption is estimated at EUR5m (USD5.6m) a year.

TAGS: tax | business | Ireland | entrepreneurs | ministry of finance | tax rates | stamp duty | tax breaks | tax reform

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »