Credit Card Stamp Duty 2021

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.

In 2020 , because of the Covid-19 crisis Revenue didn’t collect the stamp duty on credit cards until 1 July 2020.

If you are wondering how to reduce your bank charges – take a look at our comparison of current account charges in Ireland

Also, to avoid the stamp duty on credit cards, you might be interested in the Bunq Easytravel Card. It is a prepaid card but retailers/hotels etc. payment machines class it as a credit card. The bunq easytravel card is not liable to stamp duty and you can’t spend more than your balance. More about Bunq here.

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.

See the Credit Cards with the Lowest Interest Rates

Revenue Info on Card Duty