Farming - superlevy
18/10/1990
Query
Is the superlevy penalty collected by Co-ops from farmers for exceeding their milk quota allowed as a charge against farming profits?.
Decision
It is accepted that payments by farmers under the European Communities (Milk Levy) Regulations, 1985 are an expense of the trade.
Income Tax
Section 81, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT903106