Dáil Éireann Debate, Tuesday - 20 October 2015
277. Deputy Michael McGrath asked the Minister for Finance the annual amount of tax generated by the Exchequer from stallion fee income between the years 2007 and 2014; and if he will make a statement on the matter. [36089/15]
View answer278. Deputy Michael McGrath asked the Minister for Finance the annual aggregate revenues generated by thoroughbred stud operations between 2007 and 2014; the corporate taxes paid; and the revenues received by the top five thoroughbred stud operations in the past five years that are available; and if he will make a statement on the matter. [36090/15]
View answerI propose to take Questions Nos. 277 and 278 together.
I am advised that the information available to the Revenue Commissioners relates to the profits earned from the provision of all stallion stud services and that thoroughbred stud profits alone are not separately distinguished on returns. The profits earned from the provision of these services for the years 2008 to 2013 (the most recent available) are as set out in the following table.
Profits earned from the provision of all stallion stud services
|
Tax Year |
Income Tax Returns €m |
Corporation Tax Returns €m |
|
2008* |
1.1 |
0.6 |
|
2009 |
0.5 |
4.0 |
|
2010 |
0.7 |
2.3 |
|
2011 |
0.7 |
2.2 |
|
2012 |
0.7 |
6.4 |
|
2013 |
0.6 |
5.1 |
*These figures do not include fees and profits that were exempt prior to 1 August 2008.
Profits or gains arising to an owner or part owner of a stallion from the sale of services of mares within the State by a stallion, or from the sale of rights to such services, have been taxable since 1 August 2008. Previously, these profits were exempt from Income and Corporation Tax.
I am further advised by the Revenue Commissioners that stallion related profits or gains are aggregated with all other incomes for the purposes of Income and Corporation Tax calculations. All taxpayers, both individual and corporate, can have a number of sources of income, and can avail of a variety of different deductions and reliefs, which affect the final tax liability. In addition, the profit may be reduced by capital allowances or losses to which that taxpayer may be entitled. Therefore, it is not possible to infer the amount of tax that is generated solely from the taxation of these profits or gains.
The Deputy has also asked for the amount of income associated with the top five operations. I am advised by the Revenue Commissioners that, to ensure the confidentiality of Revenue's taxpayer information, it would not be appropriate for the Commissioners to reveal the profits of the top five cases.
