Donohoe ready to row back on stamp duty for farm sales
The Government will this week perform a partial row-back on the changes in the Budget in the area of stamp duty following a backlash from farmers.
Finance Minister Paschal Donohoe was criticised after the Budget saw a 4pc increase in stamp duty for non-residential land.
But after holding talks with Agriculture Minister Michael Creed on Friday, Mr Donohoe is to introduce exemptions for farm families.
Under the original proposals announced on Budget day, the new 6pc rate of tax will not apply to inter-family sales if the seller is 67 years or younger.
Government sources last night confirmed that this threshold would be increased or even removed entirely.
One source said the move would only apply for a limited period, to encourage inter-family sales that were already under consideration to be completed.
The details of the changes are currently being worked out at official level and will be announced on Thursday.
The stamp duty changes were one of the few measures announced in the Budget that led to strong criticism.