Exchequer needs a level playing field

IN a nation where golden circles flourish, Ireland's compliant taxpayers will turn a jaundiced eye on revelations that the exchequer annually loses €100m in revenue due to tax breaks for the millionaires behind Ireland's horseracing industry.

In the aftermath of the Ansbacher tax evasion expose, the murky world of tax exemptions is increasingly coming under the spotlight.

Today, for the first time, we get a glimpse of the massive scale of the financial benefits accruing to members of the super-rich club who enjoy a tax-free status on horse breeding fees.