Country Profile: Ireland

Tax to GDP ratio: 20.26

Financial Transactions Tax (FTT): Yes – tax in place

A transfer of stock or marketable securities of any company incorporated in Ireland is liable to a stamp duty at 1% of the consideration paid. In practice, this means that the duty mainly applies to transfers of shares in Irish companies and derivative financial instruments that relate to shares in Irish companies. If an electronic transfer takes place through the CREST system a 1% charge arises as well. The liability for the payment of the tax belongs to the purchaser/transferee. The following are exempt from stamp duty, the transfer of shares valued under €1,000, the transfer from one company to another as part of a corporate reconstruction or amalgamation, securities issued by the government or the EU, the issuance, transfer, repurchase or redemption of units of a collective investment undertaking, and transfer of shares in Irish companies admitted to the Enterprise Securities Market (ESM) of the Irish Stock Exchange.

Source: Centre for Economic and Policy Research

Aviation: No taxes in place

In Ireland, there is no direct taxation of aviation services like kerosene duty or VAT on tickets. However, there is a historical context of an Air Travel Tax that was abolished in 2014.

Carbon Price: Yes – Carbon pricing instrument in place

National carbon tax

  • Since: 2010
  • Coverage: 0.34% of emissions
  • Price: €56 (US$60.19)
  • Revenue: €935 million (US$1,017 million)
  • Sectors covered: Electricity and heat, Industry, Mining and extractives, Transport, Aviation, Buildings, Agriculture, forestry and fishing fuel use
  • Offsetting: Not permitted

Regional ETS

  • Since: 2005
  • Coverage: 34% of emissions
  • Price: €57.03 (US$61.30)
  • Revenue: €43,558 million (US$47,369 million)
  • Sectors covered:  Electricity and heat, Industry, Mining and extractives, Aviation
  • Offsetting: Not permitted

Source: World Bank

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