Revenue has moved to close some potential loopholes in the land leasing tax exemption scheme.

It is not permissible for farmers to lease land to each other and avail of the land leasing tax exemption.

Farmers are also prevented from leasing land and claiming tax exemption where a partnership exists between the two parties involved.

“It is important to say that the vast majority of taxpayers pay the amount of tax that is properly due and do not seek to abuse reliefs or exemptions”. said a Revenue spokesperson. “... potential for such abuse is kept under review and where identified, is brought to the attention of the Department of Finance”.