Tax loophole saves cardholders cash

LASER cardholders will be able to wriggle out of paying the annual €20 stamp duty on their cards from next year, thanks to a loophole in new rules governing the controversial tax.

But the rules have the potential to cause chaos in banks if customers choose to take advantage of the new regime.

Revenue guidelines issued to banks earlier this month show the €20 charge will only be applied to Laser debit cards that are active on December 31 each year and that have been used at least once in the preceding 12-month period.