The President of ICMSA, John Comer, welcomed today’s announcement by Minister Noonan that a Capital Gains Exemption will be contained in this year’s Finance Bill for those farmers who had no option but to dispose of their Single Farm Payments as a result of changes introduced under the new EU CAP regime .
Mr Comer said that the exemption announced by Minister Noonan was no more than a reasonable recognition of the realities of the anomaly thrown up by the new CAP but he noted that the Government had demonstrated a fairness which deserved to be acknowledged. These farmers had found themselves with potential liabilities due to no fault of their own and decisions by others and it was only right that these individuals were not penalised ‘on the double’, concluded Mr. Comer.
Ends 1 May 2014.
John Comer, 087-2057846
Cathal MacCarthy, 087-6168758
ICMSA Press Office