Labour to demand stud fee tax break facts

MULTI-MILLIONAIRES claiming tax breaks on income from stallion fees should declare their earnings in the last five years, the Labour Party will argue today.

As the Finance Bill reaches Committee stage today, Labour finance spokeswoman Joan Burton will table an amendment requiring anyone claiming tax exemptions on stud fees to make details of their income available for the previous five years.

Last year Finance Minister Charlie McCreevy changed the law for the first time forcing owners to reveal their earnings from stud fees for each year they claim a tax break.