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IFA Farm Business Chairman Martin Stapleton has welcomed the announcement by Minister for Agriculture, Michael Creed and Minister for Finance Paschal Donohoe that the stamp duty relief measure for farm consolidation, secured by IFA following Budget 2018 will commence from August 1st 2018.

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IFA President Joe Healy has written to Minister for Finance Paschal Donohoe to ask that he reverse his decision to increase stamp duty on farmland from 2% to 6%. IFA has called for the Minister to provide in the Finance Act 2017 for the stamp duty rate to remain at 2% for land that is purchased or transferred and used for farming.

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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.

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IFA President Joe Healy said the Government must honour the commitment made by Minister for Agriculture Michael Creed that the increase in commercial stamp duty from 2% to 6%, announced in the Budget, would not apply to farmland.

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