The government stamp duty on credit cards in Ireland is €30 a year and is charged annually in respect of the previous year.
Up to now , financial institutions collected the €30 duty from credit card accounts on the 1st of April each year.
From 2024, banks will be required to collect the Stamp Duty on the 1st of January for the previous year. This means that on 01 January 2024, a reduced amount of €22.50 will be charged to your account for the shorter period from April 2023 to December 2023. From 01 January 2025, the charge will revert to €30
each year.
If you are wondering how to reduce your bank charges – take a look at our comparison of current account charges in Ireland
Changing Credit Cards
If you are changing to a different credit card if you close the old credit card you don’t have to pay the stamp duty again for that year. When you close one account your card issuer should issue a letter of closure stating that you have paid your stamp duty for the year. When you give this letter to your new card issuer, they should ensure that you are not charged stamp duty again for that year.
If you close a credit card account mid-year and don’t open another one – you will still be liable for the full €30 stamp duty.
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