Dáil Éireann díospóireacht -
Tuesday, 30 Jun 1992

Vol. 421 No. 8

Written Answers. - Proposals for Cereal Producers.

Phil Hogan

Ceist:

75 Mr. Hogan asked the Minister for Finance if his attention has been drawn to the fact that the new set-aside proposals for cereal producers is forcing those producers into an unforeseen tax situation in view of the fact that there is no clawback in cereals similar to other agricultural stock; and if he will make a statement on the matter.

Minister for Finance (Mr. B. Ahern)

I have been advised by the Revenue Commissioners that compensation payments under the current EC set-aside scheme are chargeable to income tax under Case I of Schedule D.

When full details of the new EC set-aside scheme become available, the Commissioners will examine this scheme to see whether such payments are chargeable or not under existing tax legislation. It should be mentioned that the usual stock relief clawback provisions for farmers apply to cereals in line with the position for other agricultural stock.