ICMSA seeks tax incentives for farmers

THE provisions in the Finance Bill on capital gains tax and stamp duty will not encourage farmers to consolidate or enlarge their farm holdings, the Irish Creamery Milk Suppliers Association has claimed.

Taxation Committee chairperson Eamon Halpin said there is an urgent need for full-time farmers to increase scale and efficiency of production to ensure their future viability in the industry.

Mr Halpin said the ICMSA would be lobbying the political parties to get essential changes to the capital gains tax, stamp duty, capital acquisitions tax and the income tax exemption on land leases.