Dáil Éireann Debate, Tuesday - 11 June 2013
139. Deputy Finian McGrath asked the Minister for Finance since the tax exemption for earnings from stallions was abolished, the revenue that has accrued to the State from the taxing of the earnings from stallions. [27413/13]
View answerThe Revenue Commissioners have provided me with the following information. Statistics on income tax and corporation tax receipts do not generally distinguish between the yields from different sources of income, the figures of tax yields from stallion stud profits are not separately identifiable. Figures of the profits earned from the provision of stallion stud services were required to be returned in income tax and corporation tax returns from the year 2009 onwards. The figures thus entered are as set out in the following table for the tax years 2009 to 2011, the latest available. However, it is not possible to infer from these figures the amount of tax that would be generated as they would be subject to deductions such as capital allowances and losses.
Profits earned from the provision of stallion stud services
|
Tax Year |
Income Tax Returns |
Corporation Tax Returns |
|
= |
€m |
€m |
|
2009 |
0.5 |
0.5 |
|
2010 |
0.7 |
2.3 |
|
2011 |
0.7 |
2.2 |
