Vol. 491 No. 6
159 Mr. Perry asked the Minister for Finance if he will waive or reduce tax for a person (details supplied) in County Sligo in view of the fact that he is a small farmer in a rural disadvantaged area and has no means to pay the tax due; and if he will make a statement on the matter. [12841/98]
I am informed by the Revenue Commissioners that the taxpayer has been charged to tax in accordance with returns of income which he submitted. There is no provision in the Tax Acts which would enable the Commissioners to waive payment of tax returned as due or to reduce the amount payable. However, the inspector of taxes understands that the taxpayer purchased land in 1992 and financed the purchase by means of a bank loan. The interest on such a loan would be allowable as a tax deduction. No loan interest figures have been included in the farm accounts for either of the two tax years for which there is an outstanding tax liability. The taxpayer is, therefore, advised to contact his inspector of taxes with details of interest paid on the loan. On receipt of this information and supporting documentation the inspector will amend the assessments as appropriate.
