Markets

Global settlement house Euroclear urges Ireland to scrap stamp duty on share trading

Company, which settles shares traded on Euronext Dublin, has repeatedly asked Department of Finance to change tax rules to stem tide of firms quitting Ireland’s stock exchange

Calls have been growing on the state to abolish stamp duty on listed shares amid a difficult period for Irish stock exchange. Picture: Fergal Phillips

One of the world’s biggest settlement houses has urged the government to scrap stamp duty on the trading of Irish listed-shares, as the Irish stock exchange attempts to stem the tide of major players departing for the US.

Euroclear, which settles shares traded on Euronext Dublin, has written to the Department of Finance twice in recent months expressing concern over the impact of Ireland’s stamp duty rules on capital markets in the country.

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