Tax relief on productive assets would deliver big economic gains
This follows on from last year’s budget statement by Minister for Finance, Michael Noonan, which noted that the farming sector had been in receipt of “appropriate” significant tax reliefs and incentives but that an independent cost benefit analysis needed to be under-taken, the objective of which is to “identify what works and what doesn’t, and redirect the existing level of tax expenditure towards activities of maximum benefit to this sector of the economy”.
The Minister for Agriculture reaffirmed that position in last weeks announcement commenting that: “The overall objective of the review is not to change the level of support to the sector through the tax system but rather to maximise the benefits to the sector and the economy for that existing level of support.”
