As of February 8, 1995, stamp duties payable on the transfer of property (including intellectual property) between "associated companies" (i.e. those companies with a minimum 90% financial ownership relationship) were abolished. However, the regulations that were promulgated under the Finance Act of 1991 still apply to "non-associated companies". In order for "associated companies" to obtain an exemption, an appropriate application must be made with the Irish Revenue Commissioners.

Under the 1991 Act, a stamp duty is assessed on the consideration paid for the property and the monetary consideration for the transfer must reflect the actual market value of the property being transferred. Accordingly, under the 1991 Act it is not possible to provide a nominal consideration for the transfer of intellectual property. Failure by the parties to an assignment to inform the Revenue Commissioners that the interest in the property is being transferred for less than the full consideration or failure to state an appropriate market value for the property may lead to prosecution and render the parties vulnerable to fines and penalties of up to 200% of the stamp duty payable.

The granting of an exclusive and irrevocable license (particularly in the case of a patent) may be deemed to be a conveyance on sale, in which event, stamp duty would also be payable.