Request to keep stallion tax break rejected

THE European Commission yesterday rejected a request by the Irish Thoroughbred Breeders Association (ITBA) to keep the special tax exemption for breeders.

The ITBA, which represents 800 commercial breeders, is looking at other ways the Government can support the industry when the exemption is abolished next year. A report commissioned by the breeding industry estimates the scheme was costing €3 million in lost taxes each year but that figure has been disputed.

The European Commission has instead extended its investigation of tax breaks for the horse breeding industry throughout the EU.