The Minister for Agriculture, Food and the Marine, Micheal Creed and the Minister for Finance and Public Expenditure, Paschal Donohoe today announced progress made on agri-taxation policy issues. The ‘Agri-taxation Review’, a joint initiative between the two Departments, put in place a comprehensive taxation strategy for the sector with specific policy objectives to increase the mobility and the productive use of land; assist succession; and complement wider agriculture policies such as environmental sustainability.
Both Ministers today confirmed that following consultation with the EU Commission on State Aid clearance, a commencement order will be signed for the Stamp Duty relief for farm consolidation, which was contained in Finance Act 2017.
In addition, administrative arrangements have now been finalised to allow commencement of the Stamp Duty relief for long-term leases.
The Stamp Duty relief for long-term leases will commence on 1 July and the Stamp Duty relief for farm consolidation will commence on 1 August.