Finance (No. 2) Act, 1981

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Stamp duty in respect of credit cards and charge cards.

17.—(1) (a) In this subsection—

“account” means an account maintained by a bank to which amounts in respect of goods, services or cash obtained by an individual by means of a credit card are charged;

“credit card” means a card issued by a bank to an individual having an address in the State by means of which goods, services and cash may be obtained by the individual and amounts in respect of the goods, services and cash may be charged to the account.

(b) A bank shall, in each year (being the year 1982 or a subsequent year), within three months of the 1st day of April in that year, deliver to the Revenue Commissioners a statement in writing showing the number of accounts maintained by the bank on that 1st day of April.

(c) There shall be charged on every statement delivered in pursuance of paragraph (b) of this subsection a stamp duty at the rate of £5 in respect of each account included in the number of accounts shown in the statement.

(2) (a) In this subsection—

“account” means an account maintained by a promoter to which amounts in respect of goods, services or cash obtained by an individual by means of a charge card are charged;

“charge card” means a card (other than a card known as “an in-house card”) issued by a person (in this section referred to as “a promoter”) to an individual having an address in the State by means of which goods, services or cash may be obtained by the individual and amounts in respect of the goods, services or cash may be charged to the account;

“company charge card” means—

(i) a charge card issued by a promoter to a person (other than an individual) having an address in the State which, if it were issued to an individual, would be regarded as a charge card, or

(ii) a charge card issued by a promoter to an employee, nominee or agent of such a person in his capacity as such employee, nominee or agent;

“quarter” means a period of three months ending on the 31st day of March, the 30th day of June, the 30th day of September or the 31st day of December;

“supplementary card” means a company charge card which is issued by a promoter to a person (other than an individual) and is additional to another company charge card issued by the promoter to that person.

(b) A promoter shall, in each year (being the year 1982 or a subsequent year), within two months of the end of each quarter, deliver to the Revenue Commissioners a statement in writing showing the number of charge cards, company charge cards and supplementary cards issued or renewed by the promoter during that quarter.

(c) There shall be charged on every statement delivered in pursuance of paragraph (b) of this subsection a stamp duty at the rate of £2.50 for each period of six months or part of six months for which each charge card, company charge card and supplementary card shown in the statement as having been issued or renewed is expressed to be valid.

(3) There shall be furnished to the Revenue Commissioners by a bank or a promoter, as the case may be, such particulars as the Revenue Commissioners may deem necessary in relation to any statement required by this section to be delivered by the bank or promoter.

(4) (a) The duty charged by subsection (1) (c) of this section upon a statement delivered by a bank pursuant to subsection (1) (b) of this section shall be paid by the bank upon delivery of the statement.

(b) The duty charged by subsection (2) (c) of this section upon a statement delivered by a promoter pursuant to subsection (2) (b) of this section shall be paid by the promoter upon delivery of the statement.

(5) (a) In this subsection “due date” means—

(i) in relation to a statement required to be delivered pursuant to subsection (1) (b) of this section, the 1st day of April in the year in which the statement is required by that subsection to be delivered to the Revenue Commissioners, and

(ii) in relation to a statement required to be delivered pursuant to subsection (2) (b) of this section, the end of the quarter within two months of which the statement is required by the said subsection to be delivered to the Revenue Commissioners.

(b) In the case of failure by a bank or promoter, as the case may be, to deliver any statement required by subsection (1) or (2) of this section within the time specified in those subsections or of failure to pay the duty chargeable on any such statement on the delivery thereof, the bank or promoter, as the case may be, shall be liable to pay, by way of penalty, in addition to the duty, interest thereon at the rate of 15 per cent. per annum from the due date until the day on which the duty is paid and also, by way of further penalty, a sum of £300 for each day the duty remains unpaid after the expiration of three months from the due date and each penalty shall be recoverable in the same manner as if the penalty were part of the duty.

(6) The delivery of any statement required by subsection (1) or (2) of this section may be enforced by the Revenue Commissioners under section 47 of the Succession Duty Act, 1853 , in all respects as if such statement were such account as is mentioned in that section and the failure to deliver such statement were such default as is mentioned in that section.

(7) A bank or a promoter, as the case may be, shall be entitled to charge to the relevant account the amount of the stamp duty payable under this section by reference to that account or by reference to the charge card, company charge card or supplementary card to which the account relates and may apply the terms and conditions governing that account to interest on that amount.