In the December 2002 Irish Budget, stamp duty on all commercial transactions over ƒ150,000 was increased by 50% from 6% to 9%. This effectively means that an investor seeking entry into the Irish commercial property market is required to pay acquisition costs of 11.42%. This comprises 9% stamp duty, legal costs of 1% plus VAT, and agent/acquisition costs of a further 1% plus VAT.
McGreal, Stanley, McParland Clare, and Jones Long La Salle. "Impact of Stamp Duty Changes on the Irish Commercial Property Market." In 10th European Real Estate Society Conference. ERES: Conference. Helsinki, Finland, 2003.
Section: Session 2, Taxation and Public Policy