Dáil Éireann Debate, Tuesday - 25 October 2022
753. Deputy Paul Murphy asked the Minister for Agriculture, Food and the Marine if he will confirm the racehorse prize money pool in its totality for 2020; and the percentage and the amount that was returned in direct tax. [53064/22]
Amharc ar fhreagraHorse Racing Ireland (HRI) established under the Horse and Greyhound Racing Act 2001 is a commercial State Body responsible for the overall administration, promotion and development of the horse racing industry.
A total of €51.633 million was paid out in racehorse prize money in 2020. HRI contributed €35.346m of this amount with the balance of €16.287m contributed by private sponsors.
The owners of racehorses who earn prize money are not subject to taxation in respect of this income. Racehorse trainers and jockeys are subject to taxation in respect of the proportion of prize money they earn. The taxation that racehorse trainers and jockeys are subject to in respect of prize money is a matter for the Revenue Commissioners.
