Stamp Duties Consolidation Act 1999 section 9

Mode of calculating ad valorem duty in certain cases

Section 9 sets out how ad valorem stamp duty is calculated where the consideration for a transaction is expressed in a foreign currency.

• Where stamp duty is chargeable on a consideration expressed in a currency other than euro, the duty must be calculated on the euro equivalent of that foreign currency amount.
• The exchange rate used for the conversion is the rate current at the date of execution of the instrument.
• The duty is then applied to the converted euro amount in the normal way.
• This ensures that the correct amount of Irish stamp duty is collected regardless of the currency in which the transaction is denominated.