Farmers received over €55m in VAT back. / Ramona Farrelly
ADVERTISEMENT
There was a 48% increase in the amount of money returned to farmers through VAT refunds between 2004 and 2016, the latest figures from the Revenue show.
Up to 17,666 farmers each received a portion of the €55,653,800 refunded by the Revenue in this period.
The figures indicate that a small pool of farmers are intensifying the type of work they can claim VAT from, as the increase in money received was not matched by a substantial increase in the number of farmers receiving refunds.
ADVERTISEMENT
Farmers can register for VAT if they satisfy a number of criteria, including if your annual turnover exceeds €37,500 from agricultural contracting services.
However, farmers don’t have to be registered for VAT to receive a refund, and can apply to the Revenue to get VAT back on fencing, drainage and reclamation of land, along with other areas, including farm structures.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
There was a 48% increase in the amount of money returned to farmers through VAT refunds between 2004 and 2016, the latest figures from the Revenue show.
Up to 17,666 farmers each received a portion of the €55,653,800 refunded by the Revenue in this period.
The figures indicate that a small pool of farmers are intensifying the type of work they can claim VAT from, as the increase in money received was not matched by a substantial increase in the number of farmers receiving refunds.
Farmers can register for VAT if they satisfy a number of criteria, including if your annual turnover exceeds €37,500 from agricultural contracting services.
However, farmers don’t have to be registered for VAT to receive a refund, and can apply to the Revenue to get VAT back on fencing, drainage and reclamation of land, along with other areas, including farm structures.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS