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Wednesday 25 April 2018

Kerry shareholders take rest case against Revenue

Kerry co-op shareholders look set to have their appeals against income tax demands heard as a test case by the Taxation Commission in January.

Following a hearing by a joint Oireachtas committee on the topic last week, Fine Gael’s Limerick senator, Kieran O’Donnell, said that affected farmers would be receiving two letters from the Revenue over the coming weeks.

The latter, not expected until the last week in December, will be a revised notice of assessment confining the Revenue’s examination of taxes due to co-op shares issued in 2011.

Senator O’Donnell said that farmers would have 30 days to appeal this notice, with these appeals likely to form the basis of 3-5 test cases to be examined by the commission.

“The individual cases that are appealed will be critical to any test case that follows.

“But the important thing is that farmers will not now be crippled by upfront payments because the notices can be appealed without paying it first or risk of incurring penalties,” he added.

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