The stamp duty on credit cards is charged annually in respect of the previous year.
Generally, financial institutions collect the €30 duty from credit card accounts on the 1st of April 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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