The committee will discuss the letters sent by Revenue to Kerry Co-op shareholders last month, which suggested patronage shares need to be income-taxed.

Revenue told the farmers that they were liable for income tax on the value of the patronage shares they received in recent years.

Numerous farmers have reported receiving the letters, with tax bills ranging from €5,000 to €50,000.

Farmers feel they have been blindsided by these letters

Committee chair John McGuinness said: “Hundreds of Kerry Co-op members have received these Revenue letters. The issue is of great concern to farmers in Kerry who have been told by Revenue that they are liable for income tax on the value of their shares in the co-op.”

McGuinness added that farmers “feel they have been blindsided by these letters”.

The Finance Committee wishes to discuss the issue in Kerry Co-op, as well as the possible implications for other co-ops that operate patronage share schemes.

The meeting will commence at 2pm in Committee Room 4, Leinster House.

Committee proceedings can be viewed live here.

Kerry farmers advised to appeal Revenue’s stance on shares

Finance Committee to discuss tax bills received by Kerry Co-op shareholders

The Joint Committee on Finance, Public Expenditure and Reform, and the Taoiseach will meet tomorrow to discuss taxation matters relating to Kerry Co-Operative shareholdings.