29 May 2022

IFA says stamp duty commitment must be honoured

Minister Creed must honour Stamp Duty statement says IFA President

IFA president Joe Healy

IFA has said the Minister for Agriculture, Food and the Marine must honour the stamp duty declaration which was announced in last week’s budget.

The organisation’s president Joe Healy said the Government’s commitment to the issue must be made good as the proposed increase in commercial stamp duty from 2% to 6% would not apply to farmland.
“The Minister must sit down with the Minister for Finance Pascal Donohoe as a matter of urgency and clarify how this commitment will be implemented,” said Mr Healy, before acknowledging that the Stamp Duty reliefs for young trained farmers and for related parties would take an amount of transactions out of the 6% rate.
“However, there would still be a substantial amount of land sales and transfers which are not covered by these reliefs.
“Minister Creed and Minister Donohoe must make urgent provisions to ensure these transactions undertaken by farmers remain at the old 2% rate.”

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