http://195.8.171.32/vb_forum/showthread.php?s=&threadid=93494>
Anyway, back to business. Here's another letter for Irish fans to send to their TD (or all of them if you can get a list of e-mail addresses). The last paragraph is only for those TDs who you think might be in favour of the tax break, but can be left out for anyone who would support the reform.
Any comments, corrections or modifications gratefully received, and could some-one please post this on the RI forum since the gits still won't let me login.
Dear Sir
I am writing to you to complain about the Governments granting of tax relief to stud farms. Each year millions are lost to the Irish economy, disappearing into the pockets of millionaire tax exiles in Switzerland and Barbados. How much is lost we can only imagine, as the Revenue Commissioners have admitted they do not even record the money earned by stud farms in nomination fees.
Frequently when this issue is raised the Taoiseach and the Finance Minister make vague statements about protecting the rural economy; however the structure of these tax breaks actually disadvantages smaller stud farms. Thanks to economies of scale leading to lower overheads the large multi-national businesses drive down stud fees throughout Ireland threatening the very farms this tax loophole is supposed to protect.
While tax breaks like this were commonplace in the Ireland of Charles Haughey they have no place in a modern European state, and I urge you to campaign to have this iniquitous piece of cronyism consigned to the pages of history were it belongs.
If however you cannot bring yourself to commit to the total abolition of this loophole I would propose a compromise. By imposing a cap of €250 000 on stallion fees earned before tax would be liable would allow smaller businesses to still benefit while giving the Irish economy a much needed new revenue stream and allow us to claim back some of the money disappearing out of the country each year. Indeed such a cap could positively aid smaller businesses by making the more competitive against the multi-nationals, which was originally the supposed reason for the tax relief.