Written answers

Friday, 16 December 2016

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

114. To ask the Minister for Finance if the Revenue Commissioners are currently examining any other similar scheme of co-operatives involving shares given by co-ops to members and not taxed appropriately, which they intend to categorise as remuneration received by employees or self-employed contractors, in view of the recent tax assessments raised by the Revenue Commissioners regarding members of a co-op (details supplied) on the taxation of shares in the co-op received by members, in conjunction with milk received by the co-op from them and now being assessed to tax as trading income; if so, the details of same; and if he will make a statement on the matter. [40527/16]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

This is a matter for the Revenue Commissioners and, as the Deputy will be aware, Revenue is statutorily independent in the exercise of their functions. This independence, which dates back to the establishment of the Revenue Commissioners in 1923, is seen as critical to maintaining the integrity of the taxation system and forms a key pillar of Revenue's Governance framework.

I am advised by the Revenue Commissioners that their current compliance intervention activity, as regards patronage shares, is focused on patronage shares received by suppliers of milk as a consequence of and in proportion to the quantity of milk supplied, and the extent to which those share allocations are at values other than market value.

The extent to which this issue arises in other Co-ops is under consideration by the Revenue Commissioners. Should the same circumstances pertain in other Co-ops then the same tax treatment will apply.

Comments

No comments

Log in or join to post a public comment.