Shares levy ‘must be scrapped’ to stem tide of firms quitting Irish stock market

Euronext Dublin warns the tax puts Ireland at a ‘complete disadvantage’ as it fights to convince Flutter not to follow CRH to New York

Daryl Bryne, chief executive of Euronext Dublin: levy ‘creates an incentive for Irish companies to list their shares in North America’. Picture by Fergal Phillips

The government must scrap taxes applied to the trading of Irish shares in the upcoming budget or risk more companies joining CRH in abandoning the market, the operator of Ireland’s stock exchange has warned.

Euronext Dublin, which owns Ireland’s stock market, has written to the government seeking the abolition of a stamp duty tax of 1 per cent applied to investors buying shares in companies listed here.

In a strongly worded submission, it said the ...