Stamp Duties Consolidation Act 1999 section 159B

Interest on repayment of stamp duty

Section 159B sets out the rules for paying interest on repayments of stamp duty, including when interest starts to run, the daily rate applied, and the circumstances in which interest is not paid.

• Interest runs from the "relevant date" — generally 93 days after a valid repayment claim is made, or the date of the original payment if the repayment arises from a Revenue mistake.
• Simple interest accrues at 0.011% per day (or any other rate prescribed by the Minister for Finance) up to the date of repayment.
• No interest is paid if the amount would be €10 or less, and interest received is free of income tax and ignored for income tax purposes.
• The Minister may change the rate by order, but any such order must be laid before Dáil Éireann and can be annulled within 21 sitting days.