The Ballybunion branch of the IFA held its AGM on Tuesday evening, with the Revenue letter to Kerry suppliers the dominant issue for everybody present. The mood was one of shock that this could come out of the blue at this stage of the year, coupled with disbelief at the timing of this demand, following such a shocking year.
The Ballybunion branch of the IFA held its AGM on Tuesday evening, with the Revenue letter to Kerry suppliers the dominant issue for everybody present.
The mood was one of shock that this could come out of the blue at this stage of the year, coupled with disbelief at the timing of this demand, following such a shocking year.
Listen to Kerry farmers' reactions in our podcast below:
Listen to "Farmers in shock at back tax demands on Kerry co-op shares" on Spreaker.
By the meeting’s end, there was a grim determination among the members that this would be fought tooth and nail, on principle and in pursuit of justice.
Farmers also wanted to know how Revenue had gathered so much information about Kerry Co-op shareholders and the purchases they had made. The Irish Farmers Journal spoke to those present afterwards
David Diggin
They’re worrying. What can we do, we’re only farmers. There was no word when we were buying the shares that there could be a large tax liability. It was a complete shock when we got the letters. We will have a new chairman in the co-op next week. Our board members say that Kerry is looking into it, and to hang tough.
Sean Brosnan
As Kerry IFA county chair, my phone has been hopping all week. People have been frightened and that fear is now turning to anger, as they realise how unfair this is. Our advice to everybody is to wait for some clarification, which is being sought by IFA, by IFAC, and by tax advisers and accountants on behalf of their clients. We will all stand together on this, and we will achieve a just outcome.
Brendan Lawlor
This is totally unjust, no other sector of society would stand for it. We bought them at a nominal price, but there was no way you could earn an income from them, unless you sold them, when tax properly falls due. The Government lets Apple off the hook, and puts us on it instead. Only in Ireland.
Tom Mulvihill
It’s very unfair that this has come with no warning. I had just paid my tax bill for this year, I had to borrow money to pay that, and did. Now this, it’s outrageous. The shares were often used to educate the kids, it’s always been rainy day money.
Gerard Buckley
The shares were handed out to our siblings, this was done to give the men that were working on the ground, milking cows, an opportunity to have some shareholding in their co-op, and you’d have a vote as well, to have a say in your own co-op. They’re just paper in the drawer, so how are we meant to pay tax on them?
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