Kerry push for Revenue test case on co-op shares
Published 29/11/2016 | 12:00
Kerry Co-op have demanded the opportunity to take a test case to court on the Revenue's move to collect income tax from Kerry co-op shares.
A letter from Kerry Co-op outlining the issue was delivered by hand to Revenue's offices in Tralee on Friday.
"There is precedent for this where it involves a large number of individuals," said a spokesman for Kerry Group, who are assisting the co-op fight the case.
The hope among Kerry suppliers is that agreement by Revenue to the test case proposal would override the requirement for individual shareholders to respond to Revenue's initial letters within 21 days and effectively 'stop the clock' on that process.
A reply from Revenue to the Kerry Co-op proposal was expected by today (Tuesday).
A source close to the Kerry Co-op board said the board had sought independent advice and was engaging with Revenue with a view to seeking greater clarity on the patronage share issue.
"We are dealing with this as a united outfit and we are determined to take the pressure off individual shareholders," the source said.
He claimed that the matter was essentially "a difference in interpretation" of individual tax liabilities.