Mary Upton
Question:542 Dr. Upton asked the Minister for Agriculture and Food her views on continuing tax breaks for commercially managed woodlands; and if she will make a statement on the matter. [26364/06]
View answerTuesday, 4 July 2006
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The Minister for Finance announced in his Budget 2005 statement that the Department of Finance and the Revenue Commissioners would undertake a detailed review of certain tax incentive schemes and tax exemptions in 2005, including tax relief for gains arising from the occupation of woodlands on a commercial basis.
The Review of Tax Schemes was published by the Department of Finance in February 2006. It concluded that the afforestation relief in its present form should be maintained as it will result in the generation of overall positive economic benefits in the future. I welcome this conclusion.