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New Foal Levy bands and rates announced

HORSE Racing Ireland (HRI) has announced the latest Foal Levy bands and rates which will apply for all foal registrations in 2012.

After consulting industry bodies, representatives and individual breeders, the HRI board approved changes that were recommended by the foal levy committee, which included: the Irish Thoroughbred Breeders Association, the Irish Farmers Association and Horse Racing Ireland. The changes have now been given the green light by the Minister for Agriculture, Food and the Marine.

Horse Racing Ireland has increased to 11 from six the number of payment bands for its foal levy registrations. The foal levies are graded according to the cost of nomination for each sire used, starting with €35 levy for covering fees up to €1,000 and €250 for fees of €30,001 or above.

The increase in levy bands should create a level playing field for breeders. For example, take bands E and F. Last year there was only one band covering €7,500 - €12,500 stallion fees, meaning that breeders at either ends of that fee spectrum would have to pay the same levy. With the introduction of more bands this shouldn't occur. Changes implemented by the HRI should also benefit smaller breeders, with levy reductions at lower levels.

Brian Kavanagh, HRI Chief Executive, said:  "These changes which have been introduced following extensive industry consultation will ensure that the Foal Levy is charged at an appropriate rate by reference to the stallion covering fees. Allied to these changes, a number of other administrative matters were also raised by breeders in terms of the practical operation of the Foal Levy Scheme and other changes will be implemented to address these matters. I would like to express my appreciation to the Foal LevyCommittee, particularly the ITBA and IFA nominees, who have been of great assistance in bringing forward these changes to the Foal Levy Scheme."

 

The relevant foal levy bands and rates applicable for 2012
Band Covering Fee 2012 Foal Levy 2011 Foal Levy
A €0 - €1,000 €35 €39
B €1,000 - €2,500 €50 €77
C €2,501 - €5,000 €100 €153
D €5,001 - €7,500 €150 €153 & €231 (up to €7,500)
E €7,501 - €10,000 €200 €231
F €10,001 - €12,500 €250 €231 & €385 (up to €12,500)
G €12,501 - €15,000 €300 €385
H €15,001 - €17,500 €350 €385
I €17,501 - €22,500 €450 €385
J €22,501 - €30,000 €600 €385
K €30,001 + €650 €385 & €615 (over €33,500)
FOREIGN Pay Band F €250 €231
 

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