Kerry farmers lobby TDs over tax hit on shares

The move stems from a recent Revenue swoop on more than 400 farmers who supplied the co-op with deliveries of milk and who received shares as a form of compensation

Barry J Whyte

Chief Feature Writer @whytebarry
24th September, 2017

Kerry Co-op shareholders are pressing the government to change the tax treatment of so-called patronage shares in the company.

It stems from a recent Revenue Commissioners swoop on more than 400 farmers who supplied the co-op with deliveries of milk and who received shares as a form of compensation.

Revenue claimed that as a result of receiving the shares, the farmers have a tax liability for income tax, USC and PRSI based on the market value...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Comment: Irish rowers’ gold brings joy but the Olympics are nothing without heartbreak

Sport Emmet Ryan 18 hours ago

Analysis: Zappone row illuminates uncompetitive nature of diplomatic appointments

Analysis: Draft legislation brings individual accountability for financial sector misconduct a step closer

Analysis: The gap between winners and losers in retail is stark

Retail Eugene Kiernan 3 days ago