10th July 2014

ICSA President Patrick Kent has been quick to highlight that the Capital Gains Tax exemption implemented by Michael Noonan was a fair and equitable solution to an unprecedented situation.

“The wording of the CAP agreement resulted in the unforeseen problem that many farmers found themselves forced to sell entitlements through no fault of their own,” said Mr. Kent.

“To saddle these farmers with a large tax burden would have been completely unfair, discriminating against those in the land rental market. Furthermore, it would have been highly cynical for Revenue to benefit from tax raised in a situation not resulting from normal commercial farming activities.”