Stamp Duties Consolidation Act 1999 section 56

Stamp duty and value-added tax

Section 56 provides that, where an instrument is chargeable under the "LEASE" head of charge in Schedule 1, stamp duty is calculated on the value-added tax exclusive consideration or rent.

• Stamp duty under the "LEASE" head of charge in Schedule 1 is charged on the VAT-exclusive consideration or rent.
• Any VAT chargeable on the lease under section 3 of the Value-Added Tax Consolidation Act 2010 is left out of the amount on which duty is calculated.
• Unless told otherwise, Revenue assume the consideration recited in a lease is already VAT-exclusive.
• Where only a VAT-inclusive price is available, the VAT must be stripped out at the applicable rate to arrive at the stampable figure.