Michael Noonan urges fast response to Revenue’s patronage shares tax letters

Farmers who received a patronage shares tax letter from Revenue should engage with Revenue without delay, Finance Minister Michael Noonan has advised.

Responding in the Dáil to Kerry TDs Brendan Griffin (Fine Gael) and Michael Healy-Rae (Independent), Mr Noonan said early engagement with Revenue, where the share value received has been included in the accounts for the years in question, will mean an early conclusion of Revenue’s enquiries.

Early engagement with Revenue, where the share value received was not included in the accounts, will facilitate discussion with Revenue, with a view to agreeing a mutually satisfactory arrangement, including if necessary, a phased payment arrangement to deal with any tax liability involved.