ENGLISH TEXTS
operation with the goal of maximizing profitability, evidenced by births, the purchase of new broodmares, the sale of foals, and so on. Fiscal and social implications: The non-professional participant( who does not meet the second criterion) falls under the Non-Commercial Profits( BNC) tax regime. Any potential deficit may only be deducted from income of the same activity within the following six years. The income considered consists mainly of gains, after deducting the breeder’ s expenses. In the case of profit, it is subject to social contributions at a rate of 17.20 %, and of course to income tax. Regarding horse sales, any capital gain is treated as professional but cannot be exempted. The professional participant( meeting both criteria) falls under the professional BNC regime. Their income is therefore taxed and subject to social security contributions for self-employed workers, as well as income tax. Any potential deficit may be offset against total income without limit. Finally, capital gains realized from horse sales are subject to the professional regime. After more than five years of activity, and if revenue( excluding horse sales) does not exceed € 90,000 excluding VAT, the capital gain will be fully exempt. And what about VAT? The off-site breeder may opt for the agricultural VAT regime or be automatically subject to it once annual turnover exceeds € 46,000. This threshold is assessed based on the average of the two previous calendar years. In addition, the business property tax( CFE) applies to professionals who habitually engage in non-salaried activities.
Off-site breeding is becoming increasingly popular, but the authorities pay close attention to the breeder’ s actual status and the resulting fiscal and social obligations. Getting professional support to secure one’ s legal and tax status is now essential. Off-site breeding is no longer just a hobby, it is an emerging model, provided it is properly structured.
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TOP NEWS- LETTER
GALORAMA delivers every day, straight to your inbox, a passionate and free roundup of everything happening in the world of flat racing – all in just 7 minutes of reading, quicker than cooking pasta! Once a month, we take the opportunity to slow down and revisit some of the standout moments from October 2025— the ones that thrilled us or moved us deeply. Our weekly features remain unchanged: Every Monday evening, relive the weekend’ s highlights. On Tuesdays, regional racing takes the spotlight, with a summary of those who shone during the PMH meetings. Fridays, as you know, are reserved for GALORAMA’ s weekend favorites. Of course, you’ ll still find race recaps from France and abroad, our“ Seen for You” picks, sales reports, and the latest from the Pros— all part of the usual line-up. In short, GALORAMA’ s daily edition is a simple and free way to stay on top of flat racing news— on your smartphone, tablet, or computer.
ARA- BIANS
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AL GHADEER, ONE LAST CHANCE TO LEAVE AN EVEN GREATER MARK ON HISTORY
BY CÉCILE ADONIAS
Al Ghadeer has just claimed a historic third consecutive victory in the Qatar Arabian World Cup( Gr. 1-PA) and will aim next February to capture an unprecedented third Triple Crown in Doha. His trainer, François Rohaut, looks back on his extraordinary horse.
GALORAMA. How did you approach this latest challenge?
François Rohaut. With a lot of pressure! More than usual, probably because it was his last race in France. On top of that, Al Ghadeer was facing a very high-quality opponent, HM Alchahine, who came with strong ambitions.
G. What’ s next for him?
F. R. He’ s expected to run in Doha in the Gr. 1-PA H. H. The Amir Sword in mid-February. That should normally be his final race. He’ ll be seven years old, it’ s time for him to rest and move on to a new career. If he manages to win the Triple Crown for a third time, he’ ll go down in history. You have to start early to win three of them, and three in a row, no less. He’ s always been a bit in a league of his own, right from
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