Taxes Consolidation Act 1997 section 233

Stud greyhound service fees

Section 233 provided an exemption from income tax and corporation tax for profits or gains arising from stud greyhound service fees, subject to certain conditions, but this exemption ceased to apply after 31 July 2008.

• Profits from the sale of stud greyhound services (i.e. breeding fees) were exempt from income tax and corporation tax where the stud greyhound was kept in the State, or where a part-owner based in the State carried on a greyhound breeding trade
• Despite the exemption, owners and part-owners were still required to file tax returns reporting these profits or losses as if the exemption did not exist, and to keep proper records
• Profits and losses from stud greyhound services had to be computed in the normal way under the Tax Acts, and any losses had to be included in the tax return for the relevant period
• The exemption was abolished for all profits or gains arising after 31 July 2008