Kathleen Lynch (Cork North Central, Labour)
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Question 80: To ask the Minister for Finance if he will report on the latest negotiation with the European Commission on the issue of the stallion tax exemption scheme; if he has received a final position from the Commission on the matter; and if he will make a statement on the matter. [24970/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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In line with my Budget 2006 announcement, the 2006 Finance Act provides for the termination of the tax exemption for stallion stud fees with effect from 31 July 2008. My Department has notified the European Commission of this provision.

As I announced in the Budget, it is intended to hold discussions with the Commission later this year on a new tax regime appropriate to the industry.