I have just requested to close my Bank of Ireland Credit Card Account, I paid 40 euro in Government charges in April and was advised to do the same again now if I wish to close the account as it is charged for any part of a year. Any advise? or Must Pay?
Perhaps we could convince the incoming Finance Minister to make this Stamp Duty a monthly charge? This would do away with the situation referred to by mondi above.
It is not unknown for a Finance Minister to introduce tax measures which have the effect of reducing his revenue and incurring additional costs.
I think a monthly credit card tax might even increase revenue as cardholders may hold two or more cards for a period of time. I certainly notice €40 a month a lot more than €3.33 a month. He would also have the ability to increase the tax to say €3.50 a month.
How do you think that this measure would add to the Revenue's costs?
Ajapale
Dont get me wrong Im not defending this horrible anti-competitive and regressive tax. Im just pointing out that a monthly levy is simpler and a little fairer than the current set up.
It's very simple if the government want to encourage competition and think that we should shop around for financial services then there should not be a Tax on shopping around.
I won't take this government seriously until their actions get a little closer to the Rhetoric.
Check [broken link removed] out. The anti-competitive tax might just disappear (but you will be blue in the face holding your breath until the Gummit repeals it0.