More than 60 horses expected in Jamaica soon
Published:Tuesday | November 7, 2023 | 12:10 AMOrane Buchanan/Staff Reporter
Chairman of Supreme Ventures Racing and Entertainment Limited (SVREL), Solomon Sharpe, has hailed the Government’s move to remove general consumption tax (GCT) on the importation of horses.
“The horse-racing industry in Jamaica is a very important one and is a very strong ecosystem that provides a lot of jobs and any help from the Government with the importation of animals is critical as we look to build an industry. When you look globally, all of the horse-racing jurisdictions that are growing, their governments have participated in ensuring that there isn’t just quantity, but quality of horse stock,” Sharpe said.
Sharpe explained that this move could reap similar rewards to that which has happened in Japan. At present, Sharpe revealed that there are close to 1,100 horses at Caymanas Park and the removal of the GCT will help to get the number to the desired total of 1,500.
“Jurisdictions like Japan are now a force to reckon with and they went about implementing an importation programme and their bloodstock is now seen as one of the top ones in the world. We need more horses in and we need to improve on the quality as well. Any help we can get to reach 1,500 animals is the right move as we see this as a positive incentive that will help the industry on a whole,” he added.
The racing executive, who is also an owner at Caymanas Park, revealed that, at present, there are more than 60 horses being prepared to be exported to Jamaica and he feels this will not only lift the numbers at the track but also boost employment in and around the Park.
“It benefits everyone as the more horses that come in, the greater the employment. Every horse that comes in has a groom and it also gives exercise riders and jockeys more opportunities to ply their trade. We have an ageing population (horses), so we need to get in younger and fresher horses and based on the news that I’ve heard, there are about 60-plus animals in North America that are being prepared to be exported to Jamaica,” Sharpe said.
The American market has been Jamaica’s preferred hub for horse importation but according to Sharpe, this move by the Government could allow his team the luxury of looking at other countries to import horses.
“Based on protocols and logistics, the United States is still the best bet but there are other avenues and we’re always looking at the opportunities,” he concluded.
The House of Representatives on Wednesday, November 2 approved the removal of GCT on the importation of horses.
Minister of Finance and the Public Service, Dr Nigel Clarke, explained that as part of the 2023-24 revenue measures, he had announced the elimination of GCT on the importation of live horses, small ruminants, and pigs to facilitate improvement in the breeding stock on the local market.
“The measure with respect to small ruminants and pigs was made permanent by way of a July 19, 2023, GCT Order. However, with respect to live horses, due to a number of tariff codes... only a part of the measure was implemented by way of that order,” Clarke said.