Stamp duty

Change is coming on December 1 with the abolition of the Stamp Duty on more than 600 transactions, nearly two centuries after its imposition, and its replacement by the Digital Transaction Fee.

A draft bill ending stamp duty in more than 600 transactions is now at the public consultation stage.

Stamp duty is a very old fee system imposed in favor of entities such as state agencies and pension funds. One doesn't have to deal directly with the beneficiaries to have a stamp duty imposed.

A draft law that abolishes the Stamp Duty on more than 600 transactions and introduces a Digital Transaction Fee for transactions where the related charge remains, explicitly defined in the law, has been put up for public consultation until Thursday, August 22, 2024, at 11:00 PM.

The main changes include the following:

An Economy and Finance Ministry bill provides for the abolition of stamp duty on some 600 types of transactions and its replacement by the the online transaction fee for 29 transactions. The abolition of the stamp duty will benefit citizens by 32 million euros per year, from the €386 million the state collects in this way.

The confusion seen on Tuesday over whether owners of uninsured vehicles should pay the 250-euro stamp duty or not came on top of the hundreds of thousands of erroneous notices sent last week to taxpayers asking them to pay for the insurance of their vehicles.