Government’s tax take from stud farms trebles

The Government’s annual corporate tax take from the operators of stallion stud services increased almost three fold from a low base to €6.4m in the latest figures available.

According to figures provided by the Finance Minister Michael Noonan, the corporate tax take of €6.4m in 2012 from the provision of stallion stud services wasalmost three times the figure of €2.2m in in 2011.

The late Charlie Haughy introduced the exemption of profits from stallion stud services in 1969 and it remained in place until its abolition in 2008. Mr Noonan has now confirmed that since the exemption was abolished the exchequer has received €15.5m in corporate tax from stallion operators over five years between 2008 and 2012.