Developer has stamp duty liability increased to €2.56m
In a case which rested on the proper construction of the Stamp Duties Consolidation Act 1999, Ms Justice Mary Laffoy ruled that an appeal commissioner had wrongly decided the amount of stamp duty due on transfer of the lands was €284,400.
A proper construction of Section 40.2 of the 1999 Act meant Glenkerrin must pay €2.56m stamp duty or 9% of the entire price, less a 10% deposit of €3.16m paid for the lands. The appeal commissioner had wrongly decided that the amount due was 9% of the deposit price of €3.16 million, she held.
