Dáil Éireann Debate, Thursday - 14 May 2015
66. Deputy Brendan Griffin asked the Minister for Finance if he will consider making repayments by dairy farmers, in respect of milk quota super levies, tax deductible; if he is aware of the hardship that levies are causing to dairy farmers, and the losses that they represent for rural economies; and if he will make a statement on the matter. [19001/15]
View answerI am advised by the Revenue Commissioners that payments made by dairy farmers in respect of milk quota super levy (under SI 227 of 2008, as amended and Council Regulation EC 1234/2007, as amended) are an expense of the trade and as such are tax deductible.
In respect of the 2015 super levy, a regulation has been introduced whereby farmers who are facing a super levy liability will be able to pay that levy over a three year period. The terms of the scheme require farmers to repay a minimum of one-third of the payment this year and two thirds by next, with the remainder payable in 2017.
Farmers will be entitled to claim any super levy fines in full as a deduction against farm income in the year in which the expense is recognised in their accounts.
