Brokers to meet Revenue on stamp duty

Stockbrokers are concerned that a recent decision by the Revenue on the amount of stamp duty major investors should pay could result in less investment in Irish shares. They are to meet Revenue on Monday to discuss the situation.

In Ireland, when people buy shares they have to pay 1% stamp duty. In Britain the rate is 0.5%, while it is zero in most other markets. For many years the Irish stockbrokers have felt the situation was unfair.