Farmers claimed over €59m in VAT back last year. \ Ramona Farrelly
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Farmers claimed just over €59m in VAT refunds in 2017, according to the latest data from the Revenue.
Some 16,478 farmers claimed VAT back, which marked a marginal 7% drop from the previous year. However, the amount paid out was almost €5m higher, indicating that farmers are increasing their individual claims.
Farmers can make multiple claims in one year, with 20,369 claims lodged and on average €2,900 received for each claim in 2017. Farmers can claim VAT back for fencing and drainage work, along with other areas including farm structures.
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VAT-registered farmers can apply as long as they satisfy a number of criteria including that their annual turnover from contracting services does not exceed €37,500.
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Farmers claimed just over €59m in VAT refunds in 2017, according to the latest data from the Revenue.
Some 16,478 farmers claimed VAT back, which marked a marginal 7% drop from the previous year. However, the amount paid out was almost €5m higher, indicating that farmers are increasing their individual claims.
Farmers can make multiple claims in one year, with 20,369 claims lodged and on average €2,900 received for each claim in 2017. Farmers can claim VAT back for fencing and drainage work, along with other areas including farm structures.
VAT-registered farmers can apply as long as they satisfy a number of criteria including that their annual turnover from contracting services does not exceed €37,500.
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