Written answers
Tuesday, 6 July 2010
Department of Finance
Tax Code
10:00 am
Niall Collins (Limerick West, Fianna Fail)
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Question 131: To ask the Minister for Finance the amount of stud fees earned and exempted from taxation from both stallions and greyhounds analysed separately for the years 2004 to 2009; and if he will make a statement on the matter. [29331/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that the relevant information available on the amount of stud fees exempted from taxation from both stallions and greyhounds is based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for the years 2004 to 2008, the latest year for which it is available. These are set out in the following table:
Exemption | Year | Amount Claimed |
Stallion Stud Fees | 2004 | €28.7m |
Stallion Stud Fees | 2005 | €51.8m |
Stallion Stud Fees | 2006 | €90.7m |
Stallion Stud Fees | 2007 | €59.6m |
Stallion Stud Fees | 2008 | €91.4m |
Greyhound Stud Fees | 2004 | €0.4m |
Greyhound Stud Fees | 2005 | €0.6m |
Greyhound Stud Fees | 2006 | €0.4m |
Greyhound Stud Fees | 2007 | €0.4m |
Greyhound Stud Fees | 2008 | €0.0m |
It should be noted that any corresponding data returned by PAYE taxpayers in the income tax return (Form 12) is not captured in the Revenue computer system. However, any PAYE taxpayer with non-PAYE income greater than €3,174 is required to complete an income tax return (Form 11).
The figures for 2008 are subject to adjustment in the event of late returns being filed or where returns already filed are subsequently amended.
It should be noted that the tax exemption for stallion and greyhound stud fees ceased to apply in relation to any profits or gains arising on or after 1 August 2008.
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