INCOME tax on farming profits this year will be an estimated £74 million, the Minister for Finance revealed. Mr Quinn, in a written reply to Mr Joe Costello (Labour, Dublin Central) said the yield last year was £70 million and £66.5 million in 1994.
However, the figures did not include PAYE tax paid on employment income earned by farmers or their spouses. An analysis of the returns for the tax year 1992-93, the latest available, indicated that some £56 million in tax was paid by farmers, including trader farmers, or their spouses, under the PAYE system.
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