Credit transactions tax abolished before taking effect and fixed duty on compensatory payments raised to €125

Article 73 of the amending Finance Act for 2005 repeals Article 990 J of the General Tax Code, which created the tax on credit transactions. Introduced by the amending Finance Act for 2004 to offset the abolition of the stamp duty based on document size, this tax was to apply from 1 January 2006 to deeds opening credit, loans or guarantees granted by credit institutions (€6, €18 or €54 depending on the amount). The same article raises from €75 to €125 the fixed registration duty of Article 1133 ter of the General Tax Code, which applies in particular to lump-sum compensatory payments between former spouses. The repeal was proposed by the Senate finance committee; the duty increase was added by the joint committee.