The charge is for each account. An individual can have additional cards issued on his/her account without paying extra duty. Companies that have a number of cards on one account must pay the duty on each card.
The duty is payable on April 1 for the preceding year. The tax year for the stamp duty begins on April 2.
If the credit card account is closed never having been used, no stamp duty is payable provided that you close the account in the same period as it was opened. If you have used your card and you close y our account during the year, you will be charged.
If you are changing to a different credit card account you don’t have to pay the duty more than once. When you are closing the account your card issuer will give you a letter of closure stating that you have paid your stamp duty for the year. If you give this letter to your new card issuer, you will not be charged stamp duty by them for that year. It is important not to lose the letter. Only one original letter of closure can be issued. A duplicate can be obtained if it is lost. You can change account as often as you like during the year without paying extra duty, as long as you transfer a letter of closure between the card issuers each time.
You are not liable to stamp duty if your billing address is outside the State for the entire accounting period in question.