STAMP DUTY RATE FOR LAND GOING TO ACTIVE FARMERS MUST REVERT TO 2%

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STAMP DUTY RATE FOR LAND GOING TO ACTIVE FARMERS MUST REVERT TO 2%
12 Oct 2017

STAMP DUTY RATE FOR LAND GOING TO ACTIVE FARMERS MUST REVERT TO 2%

Farm Business & Credit

IFA President Joe Healy said today’s Executive Council meeting has resolved that the old stamp duty of 2% should apply to land going to active farmers.

Joe Healy said, “The Finance Bill, which will be published next Thursday, must provide for land that is purchased or transferred and used for farming, to remain at the 2% stamp duty rate. The qualifying criteria for this would be the same as Revenue currently applies to define an active farmer for other agricultural reliefs”.

Joe Healy said this proposal is credible as it would limit the 2% rate to transactions where the land is going to be farmed by active farmers.

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