Stamp duty axed on transfer of shares on ESM

The Government has scrapped stamp duty on the transfer of shares on the Enterprise Shares Market (ESM) in an effort to boost investment in Irish companies.

As it stands all transactions on the ESM are subject to a 1% stamp duty. The Irish Stock Exchange (ISE) welcomed the move.

“The ISE has long campaigned for the removal of stamp duty on investing in Irish companies — this initiative enables ESM companies to operate on a level playing field with their international peers when competing for international investment. It matches similar proposals made in the UK earlier this year and moves the Irish market more in line with European norms.”